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Technology Stocks : WAVX: Wave Systems Corp.
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From: TREND12/5/2009 10:33:58 AM
   of 604
 
Posted by: Ramsey2

Each share of Series K Convertible Preferred Stock will be convertible into 10,000 shares of Wave Class A common stock upon the election of the holder at any time or automatically on the date on which the average closing price per share of Wave Class A common stock for the 15 consecutive trading day period then ended equals or exceeds $0.70. In the aggregate, the Series K Convertible Preferred Stock is convertible into 4,560,000 shares of Wave's Class A common stock. Dividends will accrue at 8% per annum and will be paid in cash semi-annually.

wave.com
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