Checkpoint says $47.2 million 5¼% convertibles exchanged for stock ahead of call

New York, April 14 - Checkpoint Systems Inc. said holders of $47.2 million of the $60 million principal amount of its 5¼% convertible subordinated debentures due 2005 called for redemption converted them to stock.

The Thorofare, N.J., manufacturer of labeling systems issued 2.57 million shares of common stock at a conversion price of $18.375.

The other $12.8 million of the convertibles were redeemed for cash on April 13.

Checkpoint now has $23.3 million of the securities outstanding.

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