Summary
Amazon.com, Inc. (AMZN) filed an 8-K report on June 10, 2008, detailing the redemption and conversion of its 4.75% Convertible Subordinated Notes due 2009. The company called for redemption of $500 million in principal amount of these notes, with a redemption date of June 9, 2008. Investors had the option to convert their notes into Amazon's common stock prior to the redemption date.
Key Highlights
- 1Amazon.com called for redemption of $500,000,000 in principal amount of its 4.75% Convertible Subordinated Notes due 2009.
- 2The redemption date for the notes was June 9, 2008.
- 3Holders of the Notes could elect to convert them into Amazon's common stock at a conversion price of $78.0275.
- 4A significant portion of the notes, totaling $472,934,000 in principal, were converted into 6,061,093 shares of common stock by investors.
- 5The conversion period for noteholders ended on June 6, 2008.
- 6The remaining $27,066,000 in principal amount of notes were redeemed by the company.
- 7The issuance of shares from note conversions was conducted under an exemption from registration, pursuant to Section 3(a)(9) of the Securities Act of 1933, as the shares were issued solely to existing security holders.