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Article: Hallmark Financial Services, Inc. Announces Conversion of Convertible Promissory Notes.
- Article from:
- PR Newswire
- Article date:
- May 31, 2006
CopyrightCOPYRIGHT 2006 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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FORT WORTH, Texas, May 31 /PRNewswire-FirstCall/ -- Hallmark Financial Services, Inc. today announced that Newcastle Special Opportunity Fund I, L.P. and Newcastle Special Opportunity Fund II, L.P. have fully converted to common stock the outstanding principal and accrued interest on subordinated convertible promissory notes issued to them during the first quarter of 2006. The holders of these convertible notes delivered notice of conversion on May 25, 2006, immediately following shareholder approval of the convertibility of the notes at Hallmark's Annual Meeting of Shareholders. Accordingly, an aggregate of 19,648,972 shares of Hallmark common stock are being issued ...