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ATK > SEC Filings for ATK > Form 8-K on 13-Dec-2013All Recent SEC Filings

Show all filings for ALLIANT TECHSYSTEMS INC



Triggering Events That Accelerate or Increase a Direct Financial Obligati

Item 2.04. Triggering Events That Accelerate or Increase a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement.

(a) Under the terms of the indenture governing Alliant Techsystems Inc.'s ("ATK") 3.00% Convertible Senior Subordinated Notes, $200 million original aggregate principal amount (of which $199.5 million is outstanding), that mature on August 15, 2024 (the "3.00% Convertible Notes"), the holders of the 3.00% Convertible Notes are entitled to convert their notes if, during any fiscal quarter, the last reported sale price of ATK's common stock is greater than or equal to 130% of the conversion price, which is currently $99.45, for at least 20 trading days in the period of 30 consecutive trading days ending on the last trading day of the preceding fiscal quarter. This condition was satisfied on December 12, 2013. The conversion rate is 13.0717 shares of ATK common stock per $1,000 principal amount of these notes (a conversion price of $76.50). Accordingly, the 3.00% Convertible Notes will be convertible at any time at the option of the holder from December 30, 2013 through March 31, 2014, and will remain convertible so long as ATK's stock price continues to meet the 130%-of-conversion-price condition, as described above. The indenture requires ATK to satisfy 100% of the principal amount of these notes solely in cash, with any amounts above the principal amount to be satisfied in cash, common stock, or a combination of cash and common stock, at the sole election of ATK.

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