VENLO, Netherlands, January 26, 2017 /PRNewswire/ --
QIAGEN N.V. (NASDAQ: QGEN; Frankfurt Prime Standard: QIA) announced the adjustment of the conversion ratio under its 0.375% Senior Unsecured Convertible Notes due 2019 (the "Notes"). The adjusted conversion ratio of 7,063.1647 (from previously 7,334.8249) became effective as of January 25 2017.
The conversion ratio was adjusted in accordance with the terms and conditions of the Notes to reflect the impact of a synthetic share repurchase, which combines a direct capital repayment with a reverse stock split. The synthetic share repurchase, which was announced in August 2016 and approved in October 2016 at an Extraordinary General Meeting of Shareholders, involves an approach used by various large, multinational Dutch companies as an efficient way to provide returns to all shareholders, and to do so in a faster and more efficient way than through a traditional open-market share repurchase program.