Archon to redeem exchangeable preferreds

By Jennifer Chiou

New York, July 31 - Archon Corp. issued a notice of redemption for its exchangeable redeemable preferred stock, according to an 8-K report filed with the Securities and Exchange Commission.

The Las Vegas casino operator said it will redeem the preferreds at $5.241 per share.

The Nevada Agency and Trust Co. is the escrow agent.

The company noted that litigation regarding the liquidation preference for the preferreds, which began in 2006, was dismissed on May 15.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.