Manugistics exchanges $22.5 million convertibles for stock

New York, Oct. 14 - Manugistics Group, Inc. said it exchanged $22.5 million of its 5% convertible subordinated notes for stock during October.

The Rockville, Md. provider of demand and supply chain management software said it issued 3.045 million shares in exchange for the securities.

The exchange was carried out in two privately negotiated transactions with a group of affiliated note holders, Manugistics said in a filing with the Securities and Exchange Commission.

The company will record a non-cash debt conversion expense of $16.4 million during the quarter ended Nov. 30.

Following the exchange, Manugistics has $227.5 million of the notes outstanding.

Manugistics' stock closed at $6.75 on Tuesday.

© 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.