Market Overview

InterDigital Announces Conversion Rate Adjustment to 2.50% Senior Convertible Notes Due 2016

InterDigital, (NASDAQ: IDCC) announced today an adjustment to the conversion rate applicable to its 2.50% Senior Convertible Notes due 2016. On December 2, 2012, the company's Board of Directors declared a special cash dividend of $1.50 per share on its common stock. The dividend is payable on December 28, 2012 to stockholders of record as of the close of business on December 17, 2012. In connection with the special dividend, the conversion rate applicable to the convertible notes increased to 17.9580 shares of common stock per $1,000 principal amount of the convertible notes. The conversion rate adjustment became effective immediately after 9 a.m., New York City time, on December 13, 2012, the ex-dividend date for the special dividend.

Posted-In: News Financing

 

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