Manugistics exchanges $10 million convertibles for stock

New York, Jan. 14 - Manugistics Group Inc. said it issued 1.425 million shares of common stock in exchange for $10.0 million of its 5% convertible subordinated notes due in 2007.

The exchange was carried out this month in two privately negotiated transactions with a group of affiliated note holders.

Following the exchange, the Rockville, Md., provider of demand and supply chain management software has $217.5 million of the convertibles outstanding, according to a filing with the Securities and Exchange Commission.

At the notes' conversion price of $44.0625 per share, 226,950 shares would have been issued.

Manugistics previously reported that during October it exchanged $22.5 million of the convertibles for 3.045 million shares.

Manugistics stock closed at $7.77 Tuesday.

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