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XM Prices Note Conversion Offer
November 8, 2006 at 4:22 PM (PT)
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XM SATELLITE RADIO HOLDINGS has priced its offer of premium for conversion of its 10% Senior Secured Discount Convertible Notes due 2009 and consent solicitation at $25.48 per each $1,000 aggregate principal amount of the 10% notes. The price was derived from dividing the premium of $320.80 by the average closing price of XM's Class A stock ($12.59) for the five-day period ending today (11/8). The offer will expire at midnight FRIDAY (11/10).
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