Manugistics to exchange further $25.5 million 5% convertibles for stock

New York, Jan. 23 - Manugistics Group Inc. said it has agreed to exchange a further $25.5 million of its 5% convertible subordinated notes due 2007 for stock.

In exchange for the notes, the Rockville, Md., provider of demand and supply chain management software will issue 3.2 million shares of common stock.

The transaction has been agreed with two groups of affiliated holders of the convertibles.

Following the exchange, Manugistics will have $192.0 million of the convertibles outstanding.

Manugistics announced on Jan. 14 that it had issued 1.425 million shares of common stock in exchange for $10.0 million of its 5% convertibles.

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

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

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