Pacific Ethanol Provides Update on Its Senior Convertible Notes

Pacific Ethanol, Inc. (Nasdaq: PEIX) provided an update on its senior convertible notes.

The aggregate unpaid principal balance of the notes, originally $35.0 million as of October 6, 2010, has declined from $10.5 million as of September 1, 2011 to $8.4 million as of October 3, 2011. To date, a total of $25.4 million in principal has been converted into 32.7 million common shares, at an average conversion price of $0.78 per share.