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LSB Industries Announces Redemption Of Its 5.5% Convertible Senior Subordinated Debentures Due 2012

Stocks in this article: LXU

Third graph, second sentence of release should read: On August 25, 2011, the last reported sale price of our common stock on the New York Stock Exchange was $34.04 per share (sted On August 25, 2011, the last reported sale price of our common stock on the New York Stock Exchange was $38.75 per share).

The corrected release reads:


LSB Industries, Inc. (the “Company”) (NYSE: LXU) today announced that it has notified the trustee of its redemption of its outstanding 5.5% Convertible Senior Subordinated Debentures due 2012 (CUSIP Nos. 502160 AG9 and 502160 AF1) (the “Debentures”). The redemption date is set for October 14, 2011 (“Redemption Date”). The redemption will be effective in accordance with the terms of the indenture governing the Debentures at a redemption price of 100.00% of the principal amount of the Debentures plus any accrued and unpaid interest to, but excluding, the Redemption Date. The redemption of the Debentures and payment of accrued interest will be funded in cash from the Company’s working capital. As of the date of this press release, there are $500,000 outstanding of Debentures.

This press release shall not constitute a notice of redemption of the Debentures. A notice of redemption may only be made by a Notice of Redemption provided by the trustee to the holders of the Debentures.

Subject to and in accordance with the terms and conditions set forth in the indenture governing the Debentures, holders of Debentures have the right to convert their Debentures at any time until 5:00 p.m., New York City time, on October 13, 2011, at a conversion rate of 36.4 shares of our common stock per $1,000 principal amount of Debentures (equivalent to a conversion price of approximately $27.47 per share). On August 25, 2011, the last reported sale price of our common stock on the New York Stock Exchange was $34.04 per share.

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