LAKE FOREST, Ill., Sept. 14, 2018 (GLOBE NEWSWIRE) -- Stericycle, Inc. (Nasdaq: SRCL) today announced that it has completed the mandatory conversion (the “Conversion”) of all of the Company’s 5.25% Series A Mandatory Convertible Preferred Stock (the “Series A Preferred Stock”) into shares of the Company’s common stock, par value $0.01 per share. In accordance with the terms and conditions of the Certificate of Designations for the Series A Preferred Stock, all of the Company’s issued and outstanding Series A Preferred Stock automatically converted into shares of the Company’s common stock at a conversion rate of 7.3394 shares of common stock per one share of Series A Preferred Stock or a conversion rate of 0.73394 shares of common stock per one Series A Depositary Share. Following the completion of the Conversion, the Company no longer has shares of preferred stock issued and outstanding. Due to the Conversion, there are also no issued or outstanding depositary shares, each representing a 1/10th interest in a share of the Series A Preferred Stock (the “Series A Depositary Shares”), and the Company intends to delist the Series A Depositary Shares from the Nasdaq Stock Market.
For more information about Stericycle, please visit our website at www.stericycle.com.
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