Fortive announces conversion date for mandatory convertible preferred stock

Everett, wash.--(business wire)--fortive corporation (“fortive”) (nyse: ftv) announced today that its 5.00% mandatory convertible preferred stock, series a (the “preferred stock”), will automatically convert into shares of the company's common stock on july 1, 2021 (the “conversion date”). the conversion rate for each share of preferred stock will be 14.0978 shares of the company's common stock. cash will be paid in lieu of fractional shares of common stock. as previously announced, on july 1,
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