Summary
This 8-K filing from Amazon.com, Inc. (AMZN) on September 17, 2008, reports on the redemption and conversion of its 4.75% Convertible Subordinated Notes due 2009. Approximately $399 million in principal amount of these notes were called for redemption. Investors had the option to convert their notes into Amazon common stock at a price of $78.0275 per share until September 16, 2008. The company reported that $132,372,000 in principal was converted into 1,696,436 shares of common stock. The remaining $266,186,000 in principal was redeemed by the company on September 17, 2008. This transaction was conducted under an exemption from registration as it involved existing security holders converting their notes.
Key Highlights
- 1Amazon.com called for redemption approximately $399 million of its 4.75% Convertible Subordinated Notes due 2009.
- 2Noteholders had the option to convert their notes into Amazon common stock at a conversion price of $78.0275 per share.
- 3The conversion period for noteholders to exchange their notes for stock concluded on September 16, 2008.
- 4Approximately $132.37 million in principal amount of notes were converted into 1,696,436 shares of Amazon common stock.
- 5The remaining $266.19 million in principal amount of notes were redeemed by the company on September 17, 2008.
- 6The issuance of shares was made to existing security holders and qualified for an exemption from registration under Section 3(a)(9) of the Securities Act of 1933.
- 7Thomas J. Szkutak, Senior Vice President and Chief Financial Officer, signed the filing.