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Convertibles Calendar
ON THE HORIZON
MEDIS TECHNOLOGIES LTD.: (Nasdaq: MDTL): $50 million of perpetual convertible preferred stock; Citigroup; Rule 144A offering; $7.5 million greenshoe; non-callable for three years, after which subject to a 150% hurdle; no puts; New York-based maker of fuel cell batteries will use proceeds for developing and commercializing products, which may include capacity expansion, and for general purposes; talked at a dividend of 6.5% to 7.25% and an initial conversion premium of 28% to 32%; day-to-day timing.
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