Kaman Corporation (NYSE:KAMN) 2010 3.25% Convertible Senior Notes due November 2017 (the “2010 Convertible Notes”) will continue to be convertible by the holders until the close of business on Monday, November 13, 2017, which is the second scheduled trading day prior to the final maturity date of November 15, 2017, the company said.
The current conversion rate of the 2010 Convertible notes is 29.9858 shares of common stock per USD 1,000 principal amount of the 2010 Convertible Notes, subject to further adjustment in accordance with the terms and provisions of the indenture. The aggregate principal amount of 2010 Convertible Notes currently outstanding is USD 11.5 million.
If a holder of 2010 Convertible Notes validly surrenders any of its 2010 Convertible Notes for conversion in accordance with the requirements of the indenture governing the 2010 Convertible Notes, Kaman will settle such conversion in cash, up to the principal amount of such 2010 Convertible Notes, and will settle amounts in excess of such principal amount, if any, in cash, shares of Kaman´s common stock or a combination thereof, at Kaman´s election.
Kaman Corporation, founded in 1945 by aviation pioneer Charles H. Kaman, and headquartered in Bloomfield, Connecticut conducts business in the aerospace and industrial distribution markets.
The company produces and markets proprietary aircraft bearings and components; super precision, miniature ball bearings; complex metallic and composite aerostructures for commercial, military and general aviation fixed and rotary wing aircraft; safe and arming solutions for missile and bomb systems for the US and allied militaries; subcontract helicopter work; restoration, modification and support of our SH-2G Super Seasprite maritime helicopters; manufacture and support of our K-MAXÂ® manned and unmanned medium-to-heavy lift helicopters; and engineering design, analysis and certification services.