New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
March 29, 2013
11:54 EDTNPOConversion right triggered on EnPro's convertible senior debentures
EnPro Industries announced that commencing April 1, the company's $172,500,000 aggregate principal amount of 3.9375% Convertible Senior Debentures due 2015 will be convertible by holders of the Debentures. This conversion right has been triggered because the closing price per share of EnPro’s common stock has exceeded $43.93, or 130% of the initial conversion price of $33.79, for at least 20 of 30 consecutive trading days during the period ending on March 31. At the time of the sale of the Debentures, a portion of the net proceeds was used to enter into call options, hedge and warrant transactions, which entitle the company to purchase shares of its common stock from a financial institution at $33.79 per share and entitle the financial institution to purchase shares from the company at $46.78 per share. These transactions reduce potential dilution to holders of the company’s common stock from conversion of the Debentures by increasing the effective conversion price to $46.78 a share.
News For NPO From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
May 26, 2015
17:39 EDTNPOEnPro settles previously announced call option transactions
EnPro Industries announced that it has settled the previously announced acceleration of certain call options, consisting of hedge and warrant transactions entered into in connection with the issuance of its 3.9375% Convertible Senior Debentures due 2015, which resulted in a net-share settlement of approximately 0.9 million shares being delivered to the company. Together with the recently completed share repurchase program, the company has reduced the number of shares outstanding by approximately 2.1M shares since December 31, 2014.

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use