Callidus to redeem $14.2 million 4.75% convertibles due 2016 on June 18

By Susanna Moon

Chicago, May 19 - Callidus Software Inc. plans to redeem all of its $14.2 million outstanding 4.75% convertible senior notes due 2016, according to an 8-K filing with the Securities and Exchange Commission.

The company will redeem the notes at par plus accrued interest on June 18.

The notes are convertible into an aggregate of about 1.8 million shares prior to the redemption date.

The notes are callable beginning June 6 if the last reported sale price per share of common stock has been at least 130% of the conversion price for at least 20 out of 30 consecutive trading days ending within five trading days prior to the date on which Callidus provides notice of redemption.

The company's stock closed at $10.49 (Nasdaq: CALD) on May 16.

For more information, call Wells Fargo Bank, NA at 877 593-2468. Wells Fargo is the trustee.

The software company is based in Pleasanton, Calif.

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