iStar Announces Adjustment of Conversion Rate for Convertible Notes
NEW YORK, Dec. 1, 2020 /PRNewswire/ -- iStar Inc. (NYSE: STAR) announced today an adjustment to the conversion rate of its 3.125% Convertible Senior Notes due 2022 as a result of the common stock cash dividends to be paid on December 15, 2020.
The conversion price applicable to the outstanding Convertible Notes has been adjusted to $14.23 per share (70.2538 shares of iStar common stock per $1,000 principal amount of Notes) from $14.47 per share (69.1041 shares of iStar common stock per $1,000 principal amount of Notes) effective November 30, 2020 and subject to further adjustment as provided in the governing supplemental indenture.
Notice of the conversion rate adjustment has been deliv