Advanced Medical Optics Announces Its 3 1/2% Convertible Senior Subordinated Notes Due 2023 are Convertible During the Second Qu
15 Abril 2005 - 8:56PM
PR Newswire (US)
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/
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