Agilysys Announces Mandatory Conversion Date for Series A Convertible Preferred Stock
November 03 2023 - 4:05PM
Business Wire
Agilysys, Inc. (Nasdaq: AGYS) announced today that it has
delivered a notice of mandatory conversion to the holders of its
5.25% Series A convertible preferred stock.
This notice informs convertible preferred stock shareholders
that Agilysys has exercised its right to mandate that all
outstanding shares of convertible preferred stock convert to shares
of Agilysys common stock, as detailed in the Certificate of
Designation of 5.25% Series A Convertible Preferred Shares of
Agilysys, Inc.
The conversion will be effective November 24, 2023, and the
scheduled settlement is November 28, 2023.
As set forth in the Certificate of Designation, holders of
convertible preferred stock have the option to convert those shares
to Agilysys common stock before the mandatory conversion date if
done before the close of business November 21, 2023, the second
business day immediately preceding the mandatory conversion
date.
As of the November 3 notice, preferred shares can be converted
into common shares at $20.1676 and the liquidation preference was
$20.1676. No CUSIP or ISIN number was assigned for the convertible
preferred shares.
Any shares of convertible preferred stock not converted to
common shares by the mandatory conversion date will no longer be
deemed outstanding and all holder rights for those shares,
including dividend accruals, will terminate.
About Agilysys
Agilysys exclusively delivers state-of-the-art software
solutions and services that help organizations achieve High Return
Hospitality™ by maximizing Return on Experience (ROE) through
interactions that make ‘personal’ profitable. Customers around the
world use Agilysys Property Management Systems (PMS), Point-of-Sale
(POS) and F&B Inventory and Procurement (I&P) solutions to
consistently delight guests, retain staff and grow margins.
Agilysys’ 100% hospitality customer base includes branded and
independent hotels; multi-amenity resorts; casinos; property, hotel
and resort management companies; cruise lines; corporate dining
providers; higher education campus dining providers; food service
management companies; hospitals; lifestyle communities; senior
living facilities; stadiums; and theme parks. www.agilysys.com
View source
version on businesswire.com: https://www.businesswire.com/news/home/20231103695629/en/
Investor Contact: Jessica Hennessy, Senior Director of
Investor Relations 770-810-6116 jessica.hennessy@agilysys.com or
investorrelations@agilysys.com
Agilysys (NASDAQ:AGYS)
Historical Stock Chart
From Jun 2024 to Jul 2024
Agilysys (NASDAQ:AGYS)
Historical Stock Chart
From Jul 2023 to Jul 2024