InterDigital (Nasdaq: IDCC) announced that its 3.50% Senior Convertible Notes due 2027 are now convertible for the calendar quarter ending September 30, 2024. The current conversion rate is 12.9041 shares of common stock per $1,000 of the note's principal. Upon conversion, InterDigital will pay cash up to the principal amount and may use cash, stock, or a mix for any excess. Call spread transactions were entered to economically increase the conversion price from $77.49 to $106.35 per share, reducing the net shares issued on conversion. More information can be found in Footnote 5 of InterDigital's Form 10-Q for Q1 2024.