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Komag calls all $80.5 million of 2% convertibles
By Laura Lutz
Des Moines, March 28 - Komag, Inc. announced that it will redeem all of the $80.5 million outstanding principal amount of its 2% convertible subordinated notes due 2024.
Each $1,000 principal amount of notes will continue to be convertible into 37.8788 shares of common stock - a conversion price of $26.40 per share - until 5 p.m. ET on April 13. Fractional shares will be paid in cash.
Any notes not converted by that time will be redeemed on April 17. For each $1,000 principal amount redeemed, holders will receive $1,015.65, which includes accrued interest.
U.S. Bank NA is the conversion agent and paying agent (contact Paula Oswald at 213 615-6043).
Komag is a San Jose, Calif.-based supplier of thin-film disks. Its stock lost 36 cents, or 1.07%, to close at $33.13 on Wednesday.
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