CHESTNUT RIDGE, N.Y., Sept. 8, 2011 /PRNewswire/ -- LeCroy Corporation (NASDAQ: LCRY) announced today that pursuant to the terms of the Indenture governing its 4.00% Convertible Senior Notes due 2026 holders of the notes have the right to surrender their notes for repurchase beginning on September 16, 2011. Each holder of the notes has the right to require the Company to repurchase all or a portion of such holder's notes for cash at a price equal to the principal amount of notes plus any accrued and unpaid interest. If all outstanding notes are surrendered for repurchase, the aggregate Repurchase Price will be approximately $29.7 million plus accrued and unpaid interest to, but excluding, October 15, 2011. In order to surrender the notes for repurchase, a Repurchase Notice must be delivered to U.S. Bank National Association, the trustee and paying agent for the notes, no later than 5:00 p.m. EDT, on October 17, 2011. The holders of notes complying with the transmittal procedures of The Depository Trust Company need not submit a physical Repurchase Notice to U.S. Bank National Association. The holders may withdraw any notes previously surrendered for repurchase at any time no later than 5:00 p.m. EDT on October 17, 2011. LeCroy filed a Tender Offer Statement on Schedule TO with the Securities and Exchange Commission. The Company will make available to the holders of the notes, through The Depository Trust Company, documents specifying the terms, conditions and procedures for surrendering and withdrawing notes for repurchase. Note holders are encouraged to read these documents carefully before making any decision with respect to the surrender of the notes, because these documents contain important information regarding the details of the Company's obligation to repurchase the notes.
Shares of LeCroy Corporation (Nasdaq:LCRY) have taken a tremendous swing upward. The stock is trading at $14.15 as of 9:30 a.m. ET, 54.8% above Friday's closing price of $9.14. Volume is at 4.3 million, 68.5 times the daily average of 63,100.
Shares of LeCroy Corporation (Nasdaq:LCRY) have taken a tremendous swing upward. The stock is trading at $10.57 as of 2:09 p.m. ET, 20.5% above Tuesday's closing price of $8.77. Volume is at 262,746, 2.5 times the daily average of 105,500.
LeCroy Corporation (Nasdaq:LCRY) hit a new 52-week high Monday as it changed hands at $15.64 compared with its previous 52-week high of $15.50. LeCroy is currently trading at $15.62 with 10,991 shares changing hands as of 9:30 a.m..