Casella redeems all series A convertible preferreds

By Jennifer Chiou

New York, Aug. 15 - Casella Waste Systems Inc. redeemed all of its series A convertible redeemable preferred stock, according to an 8-K filing with the Securities and Exchange Commission.

On Aug. 11, 53,000 of the preferred shares were issued to Berkshire Investors LLC, Berkshire Fund V, LP and RGIP, LLC. Those securities were redeemed at a redemption price of $75.1 million, which was the liquidation value equal to the original price plus accrued but unpaid dividends through the redemption date.

The preferreds were convertible into class A common stock, at the option of the holders, at $14.00 per share.

Casella is a Rutland, Vt., waste services company.

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