Knology Converts Stock

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Knology performed a stock conversion after market close Thursday.

Each outstanding share of series-AA convertible preferred stock, including accrued dividends, was automatically converted into 5.0921 shares of Knology’s common stock, in accordance with the terms of the series-AA convertible preferred stock, the company said.

Knology added that it will pay cash in lieu of issuing fractional shares based on Thursday’s closing price of $8.94 per share.