Safeguard Scientifics Repurchases Substantially All of $31.3 Million Outstanding Balance of 2.625% Convertible Senior Subordinated Notes Due 2024
By Benzinga Staff
March 24, 2011 4:15 PM
March 24, 2011 4:15 PM
Safeguard Scientifics, Inc. (NYSE: SFE) today announced that on March 21, the Company completed the repurchase of $30.85 million of the outstanding balance of $31.3 million of its 2.625% convertible senior subordinated notes due 2024 at face value.
The repurchase reduced the company's debt-to-equity ratio to 1:5 from 1:3 at December 31, 2010, and from 1:2 at December 31, 2009.
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