Convertible

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Convertible

A financial instrument that can be exchanged for another security or equity interest at a pre-agreed time and exchange ratio.

Convertible

A bond or preferred stock that may be exchanged for common stock in the company issuing the convertible at a certain ratio and/or a certain price. A convertible security gives the holder a great deal of flexibility. It reduces risk by guaranteeing a coupon payment or dividend while also allowing the holder to take advantage of a potential, larger return through the ability to convert the security. See also: Convertible option.

convertible

Convertible

A bond or preferred stock that may, under specified conditions, be exchanged for common stock or another security, usually of the same corporation.
References in periodicals archive ?
During the first quarter of 2005, 316,251 Exchangeable Shares were converted into 400,000 Trust units and 17,747 were redeemed for cash leaving 422,650 Exchangeable Shares outstanding at March 31, 2005 which are convertable into 539,147 Trust units.
Mrs Jill Sinclair, of Convertable, said people wanted unusual and practical furniture for their homes, and the company made furniture to suit a person's needs and personal style.
You can splash out on a convertable for pounds 287 a week but, to be honest, the humidity makes an air conditioned saloon a whole lot more comfortable.
Statements of Operations Years Ended July 31, 1998 1997 Net sales $3,445,955 $2,428,348 Cost of sales 770,437 538,725 Gross profit 2,675,518 1,889,623 Operating expenses: Sales and marketing 1,309,963 993,765 General and adminstrative 3,229,257 2,396,465 Clinical testing and regulatory 2,521,386 1,967,334 Pre-Clinical research and development 822,225 1,032,486 Depreciation and amoritization 1,256,579 1,075,431 Total operating expenses 9,139,410 7,465,481 Loss from operations (6,463,892) (5,575,858) Research grant income 169,834 98,785 Interest and other income, net 809,254 662,421 Rental income, net 171,062 - Amoritization of discount and costs on mandatorily convertable notes (259,127) (1,860,051) Net loss $(5,572,869) $(6,674,703) Net loss per share: basic and diluted $ (0.
30, 1997 Cash and cash equivalents $ 59,524 $ 94,978 Securities, available-for-sale 30,172 40,995 Loans held-for-sale, net 1,760,690 1,591,307 Interest only strips, net 487,555 456,123 Servicing assets, net 53,480 40,516 Total assets 2,667,101 2,447,206 Warehouse financing 1,361,967 1,238,156 Term lines 275,692 211,751 Bonds 168,646 174,088 Time deposits 133,146 120,025 Convertable subordinated notes 69,920 69,920 Total Liabilities 2,220,239 2,017,061 Total Stockholders' Equity 446,862 430,145
Current liabilities: Current portion of notes payable $ 1,265 $ 166 Accounts payable 2,167 1,733 Accrued liabilities 1,908 1,082 Deferred distributor income 1,652 780 Income taxes payable 1,925 312 Total current liabilities 8,917 4,073 Notes payable 3,328 507 Long-term deferred taxes 501 -- Total liabilities 12,746 4,580 Mandatory redeemable convertable preferred stock -- 13,479 Stockholders' equity Common stock 15 3 Additional paid-in capital 32,740 306 Notes receivable from stockholders (46) (277) Retained earnings 4,350 706 Total stockholders' equity 37,059 738 ______ ______ $49,805 $18,797