TEL AVIV, Israel-Nexus Telecommunication Systems Ltd. converted its convertible debentures due July 2000 into ordinary shares at the conversion price of $3.50 per share. A total of $2.15 million in convertible debentures was issued in July 1995, $2 million of which was purchased by BVR Technologies Ltd.
Each debenture holder was granted 12,500 series C warrants for each principal amount of $100,000 converted, the company said. The warrants are exercisable through July 31, 2000, at an exercise price of $3.50 per share.
