Kaydon's $188.5 million remaining 4% notes due 2023 remain convertible through third quarter

By Devika Patel

Knoxville, Tenn., Aug. 6 - Kaydon Corp. said in a 10-Q filed Wednesday with the Securities and Exchange Commission that its $188.5 million of 4% contingent convertible senior subordinated notes due 2023 will remain convertible into 6,464,335 common shares during the third quarter.

During the second quarter, holders of $11.5 million of the notes converted their holdings into 394,375 common shares.

The remaining notes are convertible at a conversion price of $29.16 per share.

Kaydon is an Ann Arbor, Mich., manufacturer of custom-engineered, critical performance products.

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