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Frequently Asked Questions
  Does a flexible settlement provision in a convertible instrument change the way Nasdaq determines whether securities that are convertible into common stock are issued at a discount?
Identification Number 1136

No. A flexible settlement provision in a convertible instrument allows the issuer to settle conversions through payment or delivery of cash, shares of the company's common stock, or a combination of cash and shares. A convertible instrument with a flexible settlement provision that affects only the form of the settlement, without changing the conversion price of the instrument, will be treated under Rule 5635(c) and (d) the same as a convertible instrument with physical settlement only. See also FAQ#271 and 276.

Publication Date*: 3/2/2015 Mailto Link Identification Number: 1136
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