MARLBOROUGH, Mass.--(BUSINESS WIRE)--Cytyc Corporation (Nasdaq: CYTC) today announced that it is delivering a notice to the holders of its 2.25% Senior Convertible Notes due 2024 (CUSIP Nos. 232946 AA 1 and 232946 AB 9) (the “Convertible Notes”) in connection with Section 15.01(a)(i) of the indenture between Cytyc and U.S. Bank Trust National Association, as trustee, under which the Convertible Notes were issued (the “Indenture”). The notice advises that effective July 1, 2007, holders are entitled to convert the Convertible Notes into shares of Cytyc common stock due to the closing sale price of Cytyc common stock exceeding 120% of the Convertible Notes conversion price for at least twenty trading days out of the last thirty trading days in the quarter ended June 30, 2007. The conversion price of the Convertible Notes is $29.67 under the Indenture. The Convertible Notes will remain convertible into shares of Cytyc common stock at any time at the option of the holder through maturity. The shares of Cytyc common stock that are issuable upon conversion of the Convertible Notes are included in Cytyc’s reported diluted earnings per share amounts.
