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Photronics Inc. Message Board

  • peter_norths_proctologist peter_norths_proctologist Mar 22, 2011 2:25 PM Flag

    $100 million worth of convertible notes

    Nearly double the dollar amount they "needed" just 18 months ago. Not a good trend it seems. What happens in another 18 months?

    "On September 11, 2009, the Company sold, through a public offering, $57.5 million aggregate principal amount of 5.5% convertible senior notes which mature on October 1, 2014. Note holders may convert each $1,000 principal amount of notes to 196.7052 shares of stock (equivalent to an initial conversion price of approximately $5.08 per share of common stock) on or before September 30, 2014."

 
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