Acusphere board forgoes quarterly cash dividend on 6.5% convertible exchangeable preferreds

By Jennifer Chiou

New York, May 30 - Acusphere Inc.'s board of directors elected not to declare a quarterly cash dividend of $0.8125 per share on its 6.5% convertible exchangeable preferred stock, according to an 8-K filing with the Securities and Exchange Commission.

The Watertown, Mass.-based specialty pharmaceutical company said that the dividend would have been payable on June 1.

The company issued 900,000 of the preferreds in February 2005, and 650,000 remain outstanding.

Acusphere said this is the second quarterly dividend that has not been declared and paid on the securities.

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