WILMINGTON, Del., Dec. 14, 2015 (GLOBE NEWSWIRE) -- InterDigital, Inc. (NASDAQ:IDCC) announced today that, pursuant to the terms of the indenture governing its 2.50% Senior Convertible Notes due 2016 (the “ Notes”), the Notes will be convertible on or after December 15, 2015 until the business day immediately preceding the maturity date of the Notes, which is March 15, 2016. The Notes are currently convertible at a rate of 18.1788 shares of InterDigital common stock per $1,000 principal amount of the Notes, which reflects an increase to the conversion rate as a result of the company’s regular quarterly dividend paid on October 28, 2015. The conversion rate will be further adjusted for any future quarterly dividends in accordance with the provisions of the indenture governing the Notes. Upon conversion of any Notes, InterDigital will pay cash and deliver shares of common stock, if any, and cash in lieu of fractional shares to Holders.
InterDigital develops technologies that are at the core of mobile devices, networks, and services worldwide. We solve many of the industry's most critical and complex technical challenges, inventing solutions for more efficient broadband networks and a richer multimedia experience years ahead of market deployment. InterDigital has licenses and strategic relationships with many of the world's leading wireless companies. Founded in 1972, InterDigital is listed on NASDAQ and is included in the S&P MidCap 400® index.
InterDigital is a registered trademark of InterDigital, Inc.
For more information, visit: www.interdigital.com.
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