Energy Conversion issues shares, cash for $6 million 3% convertibles

By Jennifer Chiou

New York, Sept. 13 - Energy Conversion Devices, Inc. agreed to issue 859,590 of its common shares and pay about $43.5 million of accrued interest in exchange for $6 million of its 3% convertible senior notes due 2013, according to an 8-K filing with the Securities and Exchange Commission.

The company entered into the exchange agreements on Sept. 9.

The Rochester Hills, Mich.-based maker of thin-film flexible solar laminate products for buildings added that it may conduct additional exchanges from time to time.

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