As required under the indenture covering Apogent Technologies Inc. Floating Rate Convertible Senior Debentures due 2033 (CUSIP No. 03760AAK7), Thermo Fisher Scientific Inc. (NYSE: TMO) is providing public notice to the holders of these bonds that they have the right to convert the debentures and to receive a contingent interest payment.
The debentures are convertible because Thermo Fisher stock traded above the minimum price specified in the indenture over the applicable measurement period. The debentures continue to be convertible until July 3, 2010, and may be convertible thereafter, depending on whether or not one of the conversion conditions specified in the indenture is satisfied during future measurement periods. If conversion requests are received, Thermo Fisher has the right to decide if settlement of the debentures will be paid in cash, or a combination of cash and shares of its common stock.
The contingent interest, for the current quarterly interest period ending June 15, 2010, is payable because the average trading price of these debentures was equal to 120% or more of the principal amount of the debentures for the relevant measurement period. The amount of contingent interest payable for the period is equal to 0.0625% of the average trading price of the debentures over the measurement period triggering the contingent interest payment. The contingent interest payout amount per 1,000 of principal is $1.0453.
Thermo Fisher Scientific assumed the Apogent Technologies debentures as part of its acquisition of Fisher Scientific International Inc. ("Fisher") in 2006. Fisher acquired Apogent in 2004. The Bank of New York Mellon is the trustee for the debentures.
SOURCE Thermo Fisher Scientific Inc.