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.
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 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.
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.
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.
Therefore, the Company has also restated its financial statements to report a cumulative catch-up adjustment for the period prior to October 1, 2000, representing the effect of this change in accounting method from use of the stated conversion price to the use of the accounting conversion price in applying the intrinsic value method for determining the beneficial conversion feature for all convertible preferred stock issuances as required by EITF 00-27.
12,437,000 principal amount of the Notes were converted into 307,071 shares of Diamond Offshore common stock at the stated conversion price of $40.