InterDigital, Inc. (NASDAQ: IDCC) announced today an adjustment to the conversion rate applicable to its 2.50% Senior Convertible Notes due 2016. On December 2, 2012, the company’s Board of Directors declared a special cash dividend of $1.50 per share on its common stock. The dividend is payable on December 28, 2012 to stockholders of record as of the close of business on December 17, 2012. In connection with the special dividend, the conversion rate applicable to the convertible notes increased to 17.9580 shares of common stock per $1,000 principal amount of the convertible notes. The conversion rate adjustment became effective immediately after 9 a.m., New York City time, on December 13, 2012, the ex-dividend date for the special dividend.
InterDigital develops fundamental wireless technologies that are at the core of mobile devices, networks, and services worldwide. We solve many of the industry’s most critical and complex technical challenges, inventing solutions for more efficient broadband networks and a richer multimedia experience years ahead of market deployment. InterDigital has licenses and strategic relationships with many of the world’s leading wireless companies. Founded in 1972, InterDigital is listed on NASDAQ and is included in the S&P MidCap 400
InterDigital is a registered trademark of InterDigital, Inc.
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This news release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. For these purposes, forward-looking statements are statements concerning the company’s current beliefs, plans and expectations. Examples of these statements include, but are not limited to, statements regarding the expected form, timing and amount of the special dividend. Actual results may differ materially from those indicated in forward-looking statements as a result of various important factors, including but not limited to the expected form, timing and amount of the special dividend.