Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers T > Headlines for Teligent Inc. > News item |
Teligent adjusts conversion rates of convertibles due 2023
By Wendy Van Sickle
Columbus, Ohio, June 3 – Teligent Inc. adjusted the conversion rates for its 7% cash/8% PIK series B senior convertible notes due 2023 and its and its 4.75% convertible senior notes due 2023, according to a company news release.
The conversion rate adjustments are being made as a result of the company’s one-for-10 reverse stock split.
For the series B notes, the conversion rate is now 138.8897 shares of common stock per $1,000 principal amount, changed from 1,388.889 shares per $1,000 principal amount.
For the 4.75% convertibles, the conversion rate is now 22.472 shares per $1,000 principal amount, changed from 224.7191 shares per $1,000 principal amount.
The new rates became effective May 28.
Teligent is a specialty generic pharmaceutical company based in Buena, N.J.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.