HCI Group''s 4.25% Convertible Senior Notes Due 2037 to Become Convertible July 1, 2021
TAMPA, Fla., June 25, 2021 (GLOBE NEWSWIRE) -- HCI Group, Inc. (NYSE: HCI ) has announced that its 4.25% Convertible Senior Notes Due 2037 will become convertible by all Holders beginning on July 1, 2021. The terms of the Notes provide that the Notes will become convertible during a quarter, when the share price for 20 trading days during the final 30 trading days of the immediately preceding quarter was greater than 130% of the Conversion Price. HCI''s common shares traded above this mark for the 20 trading days from May 27 to June 24, 2021. As such, the Notes will become convertible beginning July 1 through September 30, 2021. All Holders who wish to convert their Notes into shares of HCI common stock must provide a Notice of Conversion to HCI. The requirements for such notice can be found in Section 13.02(b) of the Indenture by and between HCI and the Bank of New York Mellon, attached as Exhibit 4.1 to HCI''s Form 8-K filed with the Securities and Exchange Commission Full story available on Benzinga.
HCI Group''s 4.25% Convertible Senior Notes Due 2037 to Become Convertible July 1, 2021
TAMPA, Fla., June 25, 2021 (GLOBE NEWSWIRE) -- HCI Group, Inc. (NYSE: HCI ) has announced that its 4.25% Convertible Senior Notes Due 2037 will become convertible by all Holders beginning on July 1, 2021. The terms of the Notes provide that the Notes will become convertible during a quarter, when the share price for 20 trading days during the final 30 trading days of the immediately preceding quarter was greater than 130% of the Conversion Price. HCI''s common shares traded above this mark for the 20 trading days from May 27 to June 24, 2021. As such, the Notes will become convertible beginning July 1 through September 30, 2021. All Holders who wish to convert their Notes into shares of HCI common stock must provide a Notice of Conversion to HCI. The requirements for such notice can be found in Section 13.02(b) of the Indenture by and between HCI and the Bank of New York Mellon, attached as Exhibit 4.1 to HCI''s Form 8-K filed with the Securities and Exchange Commission Full story available on Benzinga.