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Mylan Inc. - Mandatory Convertible Preferred Stock (MYLNP)

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Last Post: 4/19/2009 12:15:13 AM - Followers: 0 - Board type: Free - Posts Today: 0

Mylan, Inc.
1500 Corporate Drive
Canonsburg, PA 15317 

Phone: (724) 514-1800

 

The Company is currently authorized to issue 5,000,000 shares of Preferred Stock, of which, as of December 23, 2008, 2,139,000 shares were issued and outstanding (that being the Convertible Preferred Stock). The Convertible Preferred Stock will pay, when declared by the Board of Directors (or an authorized Committee thereof), dividends at a rate of 6.50% per annum on the liquidation preference of $1,000 per share, payable quarterly in arrears in cash, shares of Mylan Common Stock or a combination thereof at the Company’s election when declared by the Board of Directors (or Committee, as applicable). The first dividend date was February 15, 2008. Each share of Convertible Preferred Stock then outstanding will automatically convert on November 15, 2010, into between 58.5480 shares and 71.4286 shares of the Company’s Common Stock, depending on the average daily closing price per share of Common Stock over the 20 trading day period ending on the third trading day prior to November 15, 2010. The conversion rates are subject to anti-dilution adjustments in certain circumstances. Holders may elect to convert at any time at the minimum conversion rate of 58.5480 shares of Common Stock for each share of preferred stock. A description of the Convertible Preferred Stock is set forth in the Preliminary Prospectus Supplement filed by the Company with the Commission pursuant to Rule 424(b) under the Securities Act of 1933 on November 1, 2007. Such Preliminary Prospectus Supplement supplements the Prospectus contained in the Company’s Registration Statement on Form S-3 (File No. 333-140778), which became effective upon filing with the Commission on February 20, 2007. The descriptions of Preferred Stock in such Preliminary Prospectus Supplement and Prospectus shall be deemed to be incorporated by reference herein for all purposes. Any prospectus supplement or prospectus or any amendment to the Registration Statement that includes a description of the Preferred Stock and that is subsequently filed by the Company is hereinafter incorporated by reference herein.

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#9   Nice climb... Soapy Bubbles 04/19/09 12:15:13 AM
#8   UPDATE 3-Obama urges access to cheaper generic biotech drugs nature boy 02/27/09 08:48:30 AM
#7   Flipped 4 shares... lol. Soapy Bubbles 02/20/09 10:48:55 AM
#6   LOL no. Check the iBOX. Soapy Bubbles 02/19/09 03:48:46 PM
#5   a day? Shawn Carter 02/19/09 03:44:25 PM
#4   Great fixed income -- 6.5%... Soapy Bubbles 02/19/09 03:25:49 PM
#3   INTERESTING soapy Shawn Carter 02/19/09 03:22:32 PM
#2   WOW NICE GOTTA KEEP AN EYE ON THIS realbiz 02/19/09 03:06:59 PM
#1   Interesting! Soapy Bubbles 02/19/09 03:03:03 PM
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