Vector Group registers debt for resale - South Florida Business Journal:

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The Miami-based tobacco and real estate company said the filing is forits 3.875 percent variable interesgt senior convertible debentures due 2026. The debentures were sold July 12 in aprivates placement, Vector (NYSE: VGR) Registering the stock is required by a registration rights agreementg Vector entered with the initial debenturee purchaser. The Securities and Exchange Commission filing registering the debt and stockkshows 5.11 million shares are issuabls upon conversion of the debentures at $21.50 a commonj share.
The registered Vector noted inthe filing, includews an indeterminate number of shares that may be issuedr in connection with a stock split, stock recapitalization or similar event. "Wre will not receive any proceeds fromthis offering," Vectotr said in the filing, noting its prospectus is to be used by securityholderzs to resell their debentures and the commonb stock issuable upon conversion of their debentures.
Vectorf also said in the filing the debentures will matureJune 15, unless earlier converted, redeemed or However, the company also said in the the debentures are convertible at the option at any time following their issue date until their maturitu date, unless previously redeemed or repurchased into Vector commojn stock. Vector shares closed up 18 cents to The 52-week high was $20.82 on Nov. 7. The 52-weejk low was $15.19 on June 28.