Energy Conversion Devices issues shares in swap for 3% convertibles

By Susanna Moon

Chicago, Oct. 5 - Energy Conversion Devices, Inc. issued 1.3 million common shares in exchange for $9.1 million principal amount of its 3% convertible senior notes due 2013.

The exchange was made under agreements reached with holders of the convertibles in September, according to an 8-K filing with the Securities and Exchange Commission.

On Sept. 17, the company said it agreed to exchange up to $10 million of the notes for up to 1.46 million shares.

Energy Conversion Devices is a Rochester Hills, Mich.-based maker of thin-film flexible solar laminate products for buildings.

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