VeriSign: $1.25 billion 3.25% convertibles converted, rest redeemed

By Wendy Van Sickle

Columbus, Ohio, May 2 – VeriSign, Inc. said holders converted $1,249,773,000 of its outstanding 3.25% junior subordinated convertible debentures due 2037 by the conversion deadline of 5 p.m. ET on April 30.

The company settled the conversion with a payment on May 1 of $1,249,782,048.12 in cash and the issuance of 26,079,549 shares of its common stock.

The remaining $226,000 of the debentures were redeemed on May 1 at par plus accrued interest, according to an 8-K filing with the Securities and Exchange Commission.

The company issued a redemption notice for the notes on Feb. 15, which triggered the conversion right.

The internet infrastructure services provider is based in Reston, Va.

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