On Friday afternoon, CENX filed a Form 8-K for Unregistered Sale of Equity Securities (the link for the filing is http://biz.yahoo.com/e/090911/cenx8-k.html). Century has entered into agreements to exhange 1.9 million shares of common stock for approx. $21 million of its senior notes due 2024. Century has already agreed to issue 4 million shares of common stock for approx. $47 million of its notes.
Per the filing, this is one way the company is trying to combat the current state of financial and credit markets and add strenght to their financial position.
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