Meridian Bioscience says $3.4 million debentures converted ahead of redemption

By Caroline Salls

Pittsburgh, Jan. 18 - Meridian Bioscience Inc. said holders of $3.4 million of its 7% convertible subordinated debentures due Sept. 1, 2006 converted their debentures into 211,000 shares of the company's common stock prior to redemption.

Another $603,000 of the debentures was redeemed for cash at a price of par plus accrued interest.

Following this redemption, there is about $4.9 million principal amount of the debentures outstanding, which can be converted into shares of common stock at a price of $16.09 per share anytime prior to maturity.

Meridian is a Cincinnati life science company.

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