JAKKS Pacific retires certain senior note debt

|About: JAKKS Pacific, Inc. (JAKK)|By:, SA News Editor

JAKKS Pacific (NASDAQ:JAKK) announces that it retired $12M in convertible senior notes due in 2018 for approximately $11.4M in cash and 112.4K shares of stock.

The companysays that after the redemption the balance of the face amount of the 2018 notes will have been reduced to approximately $42.7M from approximately $54.7M.

"We continue our ongoing process to further deleverage our balance sheet, and which will result in a net reduction in the number of shares of our common stock underlying the 2018 Notes by approximately 1.3 million shares," says JAKKS CEO Stephen Berman.

Source: Press Release