November 20, 2017 / 1:52 PM / 25 days ago

BRIEF-NQ Mobile to redeem $88 mln principal amount of convertible note issued to Zhongzhi

Nov 20 (Reuters) - Nq Mobile Inc

* NQ Mobile Inc. provides an update on its buyback program

* NQ Mobile Inc - ‍negotiated with Zhongzhi Hi-Tech Overseas Investment for early partial redemption of convertible note

* NQ Mobile Inc - ‍has reached an agreement to redeem $88 million of principal amount of convertible note issued to Zhongzhi in October 2016​

* NQ Mobile - if Zhongzhi converts remaining $132 million convertible notes to co’s ADS on/before March 31,2018, conversion price will be revised to $5.00/ADS​

* NQ Mobile -‍ if Zongzhi converts remaining $132 million of convertible notes after March 31, 2018 to note’s maturity conversion price will remain $6.00/ADS​ Source text for Eikon: Further company coverage:

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