Retail

Titan stock offer expires

Order Reprints

Time has expired on Titan International Inc.'s offer to holders of its 5.25% senior convertible notes due 2009 to convert their $81,200,000 principal amount of notes into Titan’s common stock at an increased

conversion rate.

As of March 20 at 5 p.m. New York City time, Titan has been advised by the conversion agent that holders of $81,200,000 aggregate principal amount of the notes, constituting 100% of the principal amount of the outstanding notes, had delivered valid tenders pursuant to the offer. All of such tenders were accepted for exchange by Titan.

The $81,200,000 of accepted notes will be converted to 6,577,200 shares of Titan common stock and the shares will be promptly delivered to the respective tendering holders by the conversion agent.

Each $1,000 principal amount of notes is convertible into 81.0 shares of Titan common stock, which is equivalent to a conversion price of approximately $12.35 per common share.

The offer was made pursuant to a Conversion Offer Prospectus, dated Feb. 21, 2007, contained in a registration statement filed by Titan with the Securities and Exchange Commission, which was declared

effective on Feb. 21, 2007.

Titan has retained Merrill Lynch, Pierce, Fenner & Smith Inc. to serve as the dealer manager for the offer.

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