In particular, this is what been said:
"...The redemption price is 101% of the principal amount of Notes, plus accrued and unpaid interest to the redemption date.
"Before 5 p.m. (Eastern time) on January 29, 2002, holders may convert their Notes into shares of Wind River Common Stock at a price of $32.33 per share, or approximately 30.93 shares of Wind River Common Stock per
$1,000 principal amount of Notes. Cash will be paid in lieu of fractional shares. On January 7, 2002, the last reported sale price of Wind River Common Stock on The Nasdaq National Market was $18.38 per share. Any Notes not converted on or before 5 p.m. (Eastern time) on January 29, 2002, will be automatically redeemed on January 30, 2002, after which interest will cease to accrue. "
My question is what's the principle amount of this notes? Secondly, the market value is $18.38 per share. The conversion is done at $32.33 per share. What's the deal?
Thanks,
--wsun |
