Top Image repurchases 10.3 million more series A convertibles

By Toni Weeks

San Diego, Aug. 30 - Top Image Systems, Ltd. has repurchased an additional 10.3 million series A convertible debentures, according to a news release.

Including the 2.04 million debentures repurchased in a tender offer that expired Aug. 1, Top Image repurchased 4.9 million of the debentures through Aug. 11. Altogether, the company has repurchased a total of 15.2 million outstanding debentures, reducing its debt by more than 80%.

The number of debentures still outstanding is now 3.8 million, equivalent to $1.1 million.

Top Image is a Tel Aviv-based producer of content management software.

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