The redemption price for the CODESwill be
Holders of the CODES are entitled to convert all or a portion of thereof (in integral multiples of
The current conversion rate of the CODES is 11.2259 shares of common stock, par value
The Company will settle the entire conversion payment obligation with respect to converted CODES, if any, in cash. If you convert your CODES you will not be entitled to any accrued and unpaid interest and will only receive the amount due upon conversion.
Any excess of the conversion value over the fair value of the debt component of the CODES, net of related deferred income taxes, will be recorded as a reduction to shareholders’ equity of the Company. We expect the fair value of the debt component of the CODES to equal its par value.
The Bank of New York Mellon (the “Trustee”) has informed the Company that, as of the date of this communication, all custodians and beneficial holders of the CODES hold the CODES through accounts with
The Trustee is acting both as the Paying Agent and Conversion Agent, each as defined under the indenture governing the CODES, for purposes of the Redemption and any conversion pursuant thereto. In order to receive the Redemption Price for the CODES, a holder must present the CODES for surrender to the Paying Agent at: The Bank of New York Mellon,
A Notice of Redemption, which contains information about converting the CODES, is being sent by the Company to all record owners of CODES.
To learn more about L-3, please visit the company’s website at www.L-3com.com. L-3 uses its website as a channel of distribution of material company information. Financial and other material information regarding L-3 is routinely posted on the company’s website and is readily accessible.
Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995
Except for historical information contained herein, the matters set forth in this news release are forward-looking statements. Statements that are predictive in nature, that depend upon or refer to events or conditions or that include words such as “expects,” “anticipates,” “intends,” “plans,” “believes,” “estimates,” “will,” “could” and similar expressions are forward-looking statements. The forward-looking statements set forth above involve a number of risks and uncertainties that could cause actual results to differ materially from any such statement, including the risks and uncertainties discussed in the company’s Safe Harbor Compliance Statement for Forward-Looking Statements included in the company’s recent filings, including Forms 10-K and 10-Q, with the
Most Popular Stories
- Desktop, Laptop Setups Still King
- Four DC Comics Properties Brought to TV Get Comic-Con Event
- UFC Fight Night Sees Robbie Lawler Win Unanimous Decision
- Plan to Simplify 2015 Health Renewals May Backfire
- 'Guardians of the Galaxy ' Sequel Slated for 2017
- Shania Twain's Vegas residency ending after 110 shows
- Pending Home Sales Slipped in June
- Nissan Profits Rise on Growth in U.S., China