BSX-A Boston Scientific Corporation 5.50% Mandatory Convertible Preferred Series A
Dividends on the Mandatory Convertible Preferred Stock will be payable on a cumulative basis when, as and if declared by our board of directors, or an authorized committee thereof, at an annual rate of 5.50% of the liquidation preference of $100.00 per share. We may pay declared dividends in cash or, subject to certain limitations, in shares of our common stock, par value $0.01 per share, or in any combination of cash and shares of our common stock on March 1, June 1, September 1 and December 1 of each year, commencing on September 1, 2020, and ending on, and including, June 1, 2023. Until we amend or terminate our existing credit agreements that contain a restriction on our ability to pay cash dividends on our capital stock, or such restrictions are no longer effective under the terms of such credit agreements, we will pay the relevant dividend in shares of our common stock. Unless earlier converted, each share of the Mandatory Convertible Preferred Stock will automatically and mandatorily convert on the second business day immediately following the last Trading Day (as defined herein) of the Settlement Period (as defined herein) into between 2.3834 and 2.9197 shares of our common stock, each subject to anti-dilution adjustments (respectively, the "Minimum Conversion Rate" and "Maximum Conversion Rate"). The number of shares of our common stock issuable on conversion of the Mandatory Convertible Preferred Stock will be determined based on the Average VWAP (as defined herein) per share of our common stock over the 20 consecutive Trading Day period commencing on, and including, the 21st Scheduled Trading Day (as defined herein) immediately preceding June 1, 2023. At any time prior to June 1, 2023, holders may elect to convert each share of the Mandatory Convertible Preferred Stock into shares of common stock at the Minimum Conversion Rate. If you elect to convert any shares of the Mandatory Convertible Preferred Stock during the Fundamental Change Conversion Period (as defined herein), such shares of the Mandatory Convertible Preferred Stock will be converted into shares of our common stock at the Fundamental Change Conversion Rate (as defined herein), and you will also be entitled to receive a Fundamental Change Dividend Make-Whole Amount and Accumulated Dividend Amount (each as defined herein). This security was issued by Boston Scientific Corp, whose common stock symbol is BSX.
$116.43 +0.94 (0.81%)
As of 03/27/2023 11:21:29 EST IEX book CBOE book
Security Information
Category1: US Equity
Category2: Preferred stocks
Category3: Convertible
GICS sector: Health Care
Industry: Medical Devices
Index country: USA
Country of incorporation: USA
IPO date: 06/02/2020
Outstanding shares: 8,750,000
Average volume: 2,962
Market cap: $906,937,500
Current dividend yield: 5.31% calculation
Coupon rate: 5.500%
Cumulative: Yes
Liquidation value: $100.00
Callable after: 01/01/1900
Maturity date: 06/01/2023
Prospectus: Read on SEC.gov
All SEC filings: SEC Edgar Online
Quarterly filings: 10-Q
Annual filings: 10-K
Sedol: BMH5QL4