EULESS, Texas, June 18, 2013 (GLOBE NEWSWIRE) -- U.S. Concrete, Inc. (Nasdaq:USCR) today reported that, on June 17, 2013, the Last Reported Sale Price of the Common Stock for at least 20 Trading Days in a period of 30 consecutive Trading Days exceeded 150% of the Conversion Price, which constitutes the Conversion Event pursuant to the Indenture, dated as of August 31, 2010, as supplemented (the "Indenture"), among U.S. Concrete, the guarantors from time to time party thereto and U.S. Bank National Association, as Trustee, relating to U.S. Concrete's 9.5% Convertible Secured Notes due 2015 (the "Notes") (all terms used but not defined herein shall have the meanings ascribed to them in the Indenture). The Conversion Rate applicable to the Notes is 95.23809524 shares of Common Stock per $1,000 principal amount of Notes.
U.S. Concrete Announces Occurrence Of Conversion Event For Its 9.5% Convertible Secured Notes Due 2015
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts
More than 30 investing pros with skin in the game give you actionable insight and investment ideas.