Zeev, I know that you do not trade NVAX, but will you please decode this info for me. It beats me, why is it that NVAX is not trading up to the 5.68 level or thereabouts? TIA
Novavax Bond Holders Elect to Convert $6 Million of Outstanding Notes
Thursday October 27, 8:00 am ET
MALVERN, Pa., Oct. 27 /PRNewswire-FirstCall/ -- Novavax, Inc. (Nasdaq: NVAX - News) announced today that certain holders of $6.0 million face amount of the company's 4.75% senior convertible notes due July 15, 2009 (the "Notes") exercised their optional conversion right to convert such Notes into 1,056,338 shares of Novavax Common Stock at the per share conversion price of $5.68. As a result of the conversion, the aggregate principal amount of Notes outstanding will be reduced from $35.0 million to $29.0 million and the company's stockholders' equity will be increased by the same amount. In addition the company's annual interest expense will be reduced by $285,000. With this conversion, the total outstanding shares of Novavax increases to 44,910,214
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