LSB Industries, Inc. Announces Final Results of Exchange Offer for $3.25 Convertible Exchangeable Class C Preferred Stock, Series 2.OKLAHOMA CITY -- LSB (Linux Standard Base) A standard interface (ABI) for Linux from the Linux Foundation (www.linux-foundation.org). Introduced in 2001 by the Free Standards Group, which later became the Linux Foundation, applications based on the LSB standard will run properly under Industries, Inc. (the "Company" or "LSB") (AMEX AMEX See: American Stock Exchange : LXU), announced the final results of its previously announced offer to exchange (the "Exchange Offer") shares of its common stock for 309,807 outstanding shares of $3.25 Convertible Exchangeable Class C Preferred Stock Stock shares that have preferential rights to dividends or to amounts distributable on liquidation, or to both, ahead of common shareholders. Preferred stock is given preference over common stock. Holders of preferred stock receive dividends at a fixed annual rate. , Series 2 ("Preferred Stock") (CUSIP CUSIP See: Committee on Uniform Securities Identification Procedures CUSIP See Committee on Uniform Securities Identification Procedures. No. 502160500). The Exchange Offer expired at 5:00 p.m. New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. Time on Monday, March 12, 2007. LSB will issue 2,262,971 shares of its common stock in exchange for 305,807 shares of its outstanding Preferred Stock tendered in the Exchange Offer. Pursuant to the terms of the Exchange Offer, the holders of the Preferred Stock accepted in the Exchange Offer waived a total of approximately $7.3 million in accrued and unpaid dividends on such shares of Preferred Stock, or $23.975 per share. 193,295 shares of the Preferred Stock remained outstanding at the expiration of the Exchange Offer. The Exchange Offer was made pursuant to an offer to exchange and related letter of transmittal Letter of Transmittal A document used by security holder to accompany certificates surrendered in an exchange or other corporate action. , copies of which may be obtained without charge from the Information Agent for the Exchange Offer, Georgeson, toll free at (800) 657-4428. The offer to exchange and other related documents filed with the Securities and Exchange Commission on Schedule TO may be obtained for free at the Commission's web site, http://www.sec.gov. LSB is a manufacturing, marketing, and engineering company with activities on a world wide basis. LSB's principal business activities consist of the manufacture and sale of commercial and residential climate control products, the manufacture and sale of chemical products for the mining, agricultural and industrial markets, the provision of specialized engineering services, and other activities. |
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