Advanced medical Optics (NYSE:AVO)
Historical Stock Chart
From May 2019 to May 2024
Advanced Medical Optics Announces Its 3 1/2% Convertible Senior
Subordinated Notes Due 2023 are Convertible During the Second Quarter of 2005
SANTA ANA, Calif., April 15 /PRNewswire-FirstCall/ -- Advanced Medical Optics,
Inc. (AMO) (NYSE:AVO) today announced that under the terms of the indenture
governing its 3 1/2% Convertible Senior Subordinated Notes Due 2023 (the
"Notes"), each holder of Notes may, at such holder's option, convert its Notes
into shares of AMO common stock, par value $0.01 per share, during the quarter
ending June 24, 2005, at a conversion rate of 48.6914 shares per $1,000
principal amount of Notes. As of April 15, 2005, AMO had approximately $5.6
million in principal amount of Notes outstanding, and shares issuable upon
conversion of the Notes have already been included in AMO's calculation of
weighted average diluted shares outstanding.
(Logo: http://www.newscom.com/cgi-bin/prnh/20050324/AMOLOGO)
Under the terms of the indenture, each holder has the right to convert such
holder's Notes during any fiscal quarter if the closing sale price of AMO's
common stock for at least 20 trading days in the 30 consecutive trading-day
period ending on the last trading day of the immediately preceding fiscal
quarter exceeds 120% of the conversion price in effect at the close of business
on each of such 30 consecutive trading days. As of the close of business on
March 25, 2005, the sale price of AMO's common stock had exceeded the
conversion price of $20.538 per share by 120% for at least 20 trading days
during the 30 consecutive trading-day period ending on March 25, 2005. As a
result of this event, the Notes are convertible during the fiscal quarter
ending on June 24, 2005. Upon conversion, AMO will have the right to deliver
shares of common stock, cash or a combination of cash and shares of common
stock. AMO will inform a converting holder of its election no later than two
business days following such holder's conversion date. AMO will pay cash in
lieu of issuing any fractional shares of common stock.
This press release is only a summary of certain provisions of the Notes and the
indenture governing the Notes. A complete explanation of the conversion rights
of holders of the Notes, as well as the procedures required to convert Notes,
is set forth in the indenture. All holders are urged to review the conversion
provisions contained in the Notes and the indenture in their entirety.
About Advanced Medical Optics
Advanced Medical Optics, Inc. (AMO) is a global leader in the development,
manufacturing and marketing of ophthalmic surgical and eye care products. The
company focuses on developing a broad suite of innovative technologies and
devices to address a wide range of eye disorders. Products in the ophthalmic
surgical line include intraocular lenses, phacoemulsification systems,
viscoelastics, microkeratomes and related products used in cataract and
refractive surgery. AMO owns or has the rights to such ophthalmic surgical
product brands as ReZoom(TM),Phacoflex(R), Clariflex(R), Array(R), Sensar(R),
CeeOn(R), Tecnis(R) and Verisyse(TM) intraocular lenses, Sovereign(R) and
Sovereign(R) Compact(TM) phacoemulsification systems with WhiteStar(TM)
technology, Amadeus(TM) and Amadeus(TM) II microkeratomes, Healon(R) and
Vitrax(R) viscoelastics, and the Baerveldt(R) glaucoma shunt. Products in the
contact lens care line include disinfecting solutions, daily cleaners,
enzymatic cleaners and lens rewetting drops. Among the contact lens care
product brands the company possesses are COMPLETE(R) Moisture PLUS(TM),
COMPLETE(R) Blink-N-Clean(R), Consept(R)F, Consept(R) 1 Step, Oxysept(R) 1
Step, UltraCare(R), Ultrazyme(R), Total Care(R) and blink(TM) branded products.
Amadeus is a licensed product of, and a trademark of, SIS, Ltd. AMO is based
in Santa Ana, California, and employs approximately 3,000 worldwide. The
company has operations in about 20 countries and markets products in
approximately 60 countries. For more information, visit the company's Web site
at http://www.amo-inc.com/.
Advanced Medical Optics, Inc.
Contacts: Vince Scullin
(714) 247-8344
Sheree Aronson
(714) 247-8290
http://www.newscom.com/cgi-bin/prnh/20050324/AMOLOGO
http://photoarchive.ap.org/
DATASOURCE: Advanced Medical Optics, Inc.
CONTACT: Vince Scullin, +1-714-247-8344, , or
Sheree Aronson, +1-714-247-8290, , both of Advanced
Medical Optics, Inc.
Web site: http://www.amo-inc.com/