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Pitney Bowes Calls for Redemption of All of Its Outstanding 4% Convertible Cumulative Preferred Stock and $2.12 Convertible Preference Stock

Tuesday, April 23, 2019

Press release from the issuing company

Stamford, Conn. – Pitney Bowes Inc., a global technology company that provides commerce solutions in the areas of ecommerce, shipping, mailing, finance, and data, today called for redemption of all of its outstanding shares of 4% Convertible Cumulative Preferred Stock and $2.12 Convertible Preference Stock.

The 4% Convertible Cumulative Preferred Stock and $2.12 Convertible Preference Stock will be redeemed on June 18, 2019. The redemption price for the 4% Convertible Cumulative Preferred Stock will be $50 per share, plus the portion of the quarterly dividend accrued as of June 18, 2019 and any unpaid dividends. The redemption price for the $2.12 Convertible Preference Stock will be $28 per share, plus the portion of the quarterly dividend accrued as of June 18, 2019 and any unpaid dividends.

Holders of the 4% Convertible Cumulative Preferred Stock have the right to convert each share of 4% Convertible Cumulative Preferred Stock into 24.24 shares of PBI common stock in lieu of the redemption prior to 5:00 PM Eastern Time on June 18, 2019. Holders of the $2.12 Convertible Preference Stock have the right to convert each share of $2.12 Convertible Preference Stock into 16.53 shares of PBI common stock in lieu of the redemption prior to 5:00 PM Eastern Time on June 17, 2019.

A notice of redemption containing additional information regarding the redemption and the conversion rights will be delivered to all holders of the 4% Percent Convertible Cumulative Preferred Stock and $2.12 Convertible Preference Stock.

 

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