Solar Applied Materials lowers conversion price on 0% five-year notes

By Susanna Moon

Chicago, Aug. 25 - Solar Applied Materials Technology Corp. said it adjusted the conversion price on its $115 million of 0% five-year convertible notes.

The conversion price was lowered to NT$72.43 from NT$93.056, effective Aug. 14, according to a company notice.

The company priced the zero-coupon convertibles at par on July 11 with an initial conversion premium of 28% over the closing price of NT$72.70 on July 8.

The Tainan City, Taiwan-based company makes high-technology metals and rare materials for coating metal disks like CDs and DVIDs.

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