Kaydon Corporation Announces Completion of Redemption of Its 4.0% Contingent Convertible Senior Subordinated Notes Due 2023

Fri. September 19, 2008; Posted: 04:09 PM

ANN ARBOR, Mich., Sep 19, 2008 (BUSINESS WIRE) -- KDN | Quote | Chart | News | PowerRating -- Kaydon Corporation (NYSE:KDN) today announced that it has completed its previously announced redemption of all of its outstanding 4.0% Contingent Convertible Senior Subordinated Notes Due 2023 ("Notes"). In accordance with the conversion provisions of the Notes and the indenture for the Notes, holders of the Notes had the right at any time before 5:00 p.m., New York City time, on September 18, 2008, the second business day prior to the redemption date, to convert their Notes into shares of the Company's common stock at a conversion rate of 34.2936 common shares per $1,000 principal amount of Notes. Holders of all of the outstanding Notes converted their Notes into an aggregate of 6,858,683 shares of the Company's common stock prior to expiration of the conversion period. The effect of these shares of common stock issued upon conversion has previously been included in the Company's share count for the calculation of diluted earnings per share. As a result of the foregoing, as of September 19, 2008, none of the Notes remain outstanding.

Kaydon Corporation is a leading designer and manufacturer of custom-engineered, performance-critical products, supplying a broad and diverse group of alternative-energy, industrial, aerospace, medical and electronic equipment, and aftermarket customers.

SOURCE: Kaydon Corporation

Kaydon Corporation Peter C. DeChants, 734-680-2009 Senior Vice President -- Corporate Development and Strategy, and Treasurer

For full details on Kaydon Corp (KDN) click here. Kaydon Corp (KDN) has Short Term PowerRatings of 8. Details on Kaydon Corp (KDN) Short Term PowerRatings is available at This Link.

More News: Market Updates | Stock Alerts | All Trading News | Stock Index

Archives

Feedback

Email Article Link

Close X

RELATED SITES

Please call 1-213-955-5858 ext. 1

Tax Relief Bank Levy Wage Garnishment

Disclaimer:

The Connors Group, Inc. ("Company") is not an investment advisory service, nor a registered investment advisor or broker-dealer and does not purport to tell or suggest which securities or currencies customers should buy or sell for themselves. The analysts and employees or affiliates of Company may hold positions in the stocks, currencies or industries discussed here. You understand and acknowledge that there is a very high degree of risk involved in trading securities and/or currencies. The Company, the authors, the publisher, and all affiliates of Company assume no responsibility or liability for your trading and investment results. Factual statements on the Company's website, or in its publications, are made as of the date stated and are subject to change without notice.

It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable or that they will not result in losses. Past results of any individual trader or trading system published by Company are not indicative of future returns by that trader or system, and are not indicative of future returns which be realized by you. In addition, the indicators, strategies, columns, articles and all other features of Company's products (collectively, the "Information") are provided for informational and educational purposes only and should not be construed as investment advice. Examples presented on Company's website are for educational purposes only. Such set-ups are not solicitations of any order to buy or sell. Accordingly, you should not rely solely on the Information in making any investment. Rather, you should use the Information only as a starting point for doing additional independent research in order to allow you to form your own opinion regarding investments. You should always check with your licensed financial advisor and tax advisor to determine the suitability of any investment.

HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN INHERENT LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING AND MAY NOT BE IMPACTED BY BROKERAGE AND OTHER SLIPPAGE FEES. ALSO, SINCE THE TRADES HAVE NOT ACTUALLY BEEN EXECUTED, THE RESULTS MAY HAVE UNDER- OR OVER-COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFITS OR LOSSES SIMILAR TO THOSE SHOWN.

The Connors Group, Inc.
15260 Ventura Blvd., Ste. 2200
Sherman Oaks, CA 91403

All analyst commentary provided on TradingMarkets.com is provided for educational purposes only. The analysts and employees or affiliates of TradingMarkets.com may hold positions in the stocks or industries discussed here. This information is NOT a recommendation or solicitation to buy or sell any securities. Your use of this and all information contained on TradingMarkets.com is governed by the Terms and Conditions of Use. Please click the link to view those terms. Follow this link to read our Editorial Policy.