Stated conversion price

Stated conversion price

At the time of issuance of a convertible security, the price the issuer effectively grants the securityholder to purchase the common stock, equal to the par value of the convertible security divided by the conversion ratio.
References in periodicals archive ?
According to Millennium Cell, the three-year Series C Preferred provides for cumulative dividends at seven percent per annum and has a stated conversion price of $2 per share, which is adjustable under certain conditions.
Under this method, the effect of the conversion of the Notes would only be included in the weighted average shares outstanding balance, and thus be dilutive, only upon exceeding the stated conversion price to be determined upon pricing.
For pricing, this is critical when considering the impact on the 'recovery rate' - the ratio between the value of a bank's equity at the CoCo conversion trigger time and the contractually stated conversion price.
In exchange for the immediate vesting of the conversion rights under the note (which allow the conversion thereof into 3 million shares of the company's common stock at the stated conversion price of $3.
This term makes the preferreds stated conversion price irrelevant.
In connection with the offering, the holders of the Company's currently outstanding Cumulative Convertible Preferred Stock have agreed to convert their preferred stock to common stock of the Corporation at the stated conversion price of $.
In connection with this assignment, Berg & Berg has agreed that the series C-1 stock shall be convertible at the lower of its stated conversion price of $4.
The initially stated conversion price of Series E Convertible Preferred Stock was $11.
The Series E preferred stock will be convertible 13 months after initial issuance into common stock of the bank at an initially stated conversion price of $11.
In connection with this assignment, Berg & Berg has agreed that the series C-2 stock shall be convertible at the lower of its stated conversion price of $4.
Holders of the convertible preferred stock may convert their preferred stock to shares of Washington Mutual common stock at any time for the stated conversion price.
The three-year Series C Preferred provides for cumulative dividends at 7% per annum and has a stated conversion price of $2 per share, which is adjustable under certain conditions.