Replies to post #417914 on InterDigital Inc (IDCC)

[FISH21049]

LTE: I think the following is IDCC's previous conversion rate::

https://www.streetinsider.com/Press+Releases/InterDigital+Announces+Pricing+of+Private+Offering+of+%24275+Million+of+1.50%25+Senior+Convertible+Notes/10347608.html

InterDigital Announces Pricing of Private Offering of $275 Million of 1.50% Senior Convertible Notes March 6, 2015 7:00 AM EST

WILMINGTON, Del., March 6, 2015 (GLOBE NEWSWIRE) -- InterDigital, Inc. ("InterDigital") (Nasdaq: IDCC) announced today the pricing of its private offering of $275 million aggregate principal amount of 1.50% Senior Convertible Notes due 2020 to be sold to qualified institutional buyers in reliance on Rule 144A under the Securities Act of 1933, as amended (the "Act"). InterDigital has granted the initial purchasers of the notes a 13-day option to purchase up to an additional $41 million aggregate principal amount of notes, solely to cover over-allotments, if any. The offering is expected to close on March 11, 2015, subject to certain closing conditions.

The notes will be InterDigital's senior unsecured obligations. The notes will pay interest semi-annually in cash on March 1 and September 1 at a rate of 1.50% per year, and will mature on March 1, 2020. The holders of the notes will have the ability to require InterDigital to repurchase all or any portion of their notes for cash in the event of a fundamental change. In such case, the repurchase price would be 100% of the principal amount of the notes being repurchased plus any accrued and unpaid interest.

Prior to December 1, 2019, the notes will be convertible only upon the occurrence of certain events and during certain periods, and thereafter, at any time until the second scheduled trading day preceding the maturity date. The notes will be convertible at an initial conversion rate of 13.8172 shares of InterDigital common stock per $1,000 principal amount of the notes, which is equivalent to an initial conversion price of approximately $72.37, which represents a 35% conversion premium to the closing sale price of $53.61 per share of InterDigital common stock on the NASDAQ Global Select Market on March 5, 2015. In addition, following certain corporate transactions that occur prior to the maturity date, InterDigital will, in certain circumstances, increase the conversion rate for a holder that elects to convert its notes in connection with such a corporate transaction. Upon any conversion, the notes will be settled in cash, shares of InterDigital's common stock or a combination thereof, at InterDigital's election.