Charter holders exchange all convertible preferreds for stock

By Angela McDaniels

Tacoma, Wash., Sept. 4 - Charter Communications, Inc. issued 4,699,986 shares of class A common stock in exchange for 36,713 shares of its series A convertible redeemable preferred stock, according to an 8-K filing with the Securities and Exchange Commission.

The preferreds had a liquidation preference of $4.84 million.

Following the exchange, no preferreds remain outstanding.

The preferreds were exchanged under agreements that had been reached with each of the four holders of the preferreds as of Aug. 29, the company said.

Charter is a broadband communications company based in St. Louis.

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