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SIRI » Topics » 2 SIZE="1"> 1 / 2 % Convertible Notes due 2009

This excerpt taken from the SIRI 10-K filed Mar 10, 2009.

2SIZE="1"> 1/2% Convertible Notes due 2009

STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%;padding-bottom:3px;line-height:95%; vertical-align:top">In February 2004, SIRIUS issued $250,000 in aggregate principal amount of 2SIZE="1"> 1/2% Convertible Notes due 2009 (the “2 1/SIZE="1">2% Notes”) resulting in net proceeds, after debt issuance costs, of $244,625. In March 2004, SIRIUS issued an additional $50,000 in aggregate principal amount of the 2SIZE="1"> 1/2% Notes pursuant to an option granted in connection with the initial offering of the notes, resulting in net proceeds of $48,975.
As of December 31, 2008, $110,414 principal balance of the 2 1/2% Notes were converted into shares of our common stock. During
2009, but prior to the maturity date, an additional $18,000 principal balance of the 2 1/2% Notes were converted into shares of
our common stock (see Note 19, Subsequent Events). The remaining principal balance of $171,586 of the 2 1/2% Notes matured on
February 15, 2009, and were paid in cash at maturity.

FACE="Times New Roman" SIZE="2">3 1/2% Convertible Notes due 2008

STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%;padding-bottom:3px;line-height:95%; vertical-align:top">In May 2003, SIRIUS issued $201,250 in aggregate principal amount of 3FACE="Times New Roman" SIZE="1"> 1/
2% Convertible Notes due 2008 resulting in net proceeds, after debt issuance costs, of $194,224. These notes matured on June 1, 2008 and were repaid on such date.

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