Norsat cuts conversion price on notes

New York, June 24 - Norsat International Inc. said it lowered the conversion price on its $2 million of 8% unsecured convertibles notes due March 31, 2007 to $1.25 from $1.70.

Norsat, a Vancouver, B.C., maker of satellite products for high-speed data transmission, issued the notes in March 2002. Its stock closed at $1.355 Friday.

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