A Medical Device Daily
As required under the indenture covering Apogent Technologies' (Portsmouth, New Hampshire) floating rate convertible senior debentures due 2033, Thermo Fisher Scientific (Waltham, Massachusetts) is providing public notice to the holders of these bonds that they have the right to convert the debentures.
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 Dec. 31, 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.
Thermo Fisher assumed the Apogent Technologies debentures as part of its acquisition of Fisher Scientific International in 2006 (Medical Device Daily, Nov. 10, 2006). Fisher acquired Apogent in 2004.
The Bank of New York Mellon is the trustee for the debentures.
Thermo Scientific offers customers a range of high-end analytical instruments as well as laboratory equipment, software, services, consumables and reagents to enable integrated laboratory workflow solutions. Fisher Scientific provides a portfolio of laboratory equipment, chemicals, supplies and services used in healthcare, scientific research, safety and education.