NEW YORK (GenomeWeb News) – Thermo Fisher Scientific today provided notice to holders of certain bonds have the right to convert the debentures.
The firm said that holders of Apogent Technologies' Floating Rate Convertible Senior Debentures due 2033 may convert the debentures because Thermo Fisher's stock has traded above the minimum price specified in the indenture over the applicable measurement period.
Thermo Fisher assumed the debentures as part of its acquisition of Apogent in 2004.
The firm said that the debentures continue to be convertible until Sep. 26, 2009, and may be convertible thereafter, depending on whether or not one of the conversion conditions specified in the indenture is satisfied during future measurement periods. Thermo Fisher said that if it receives conversion requests, it has the right to decide whether to pay bond holders in cash or a combination of cash and shares of its common stock.