(Updates with closing share price in second paragraph.)
Feb. 16 (Bloomberg) -- Orckit Communications Ltd. slumped the most in more than nine years after it reached an agreement with Series A bondholders that includes deferring early redemption rights and lowering the conversion price.
The shares tumbled 27 percent, the biggest drop since November 2002, to 2.06 shekels at the 4:30 p.m. close in Tel Aviv, giving the company a market value of 46.9 million shekels ($12 million). The stock tumbled as much as 41 percent earlier.
--With assistance from Daliah Merzaban in Dubai. Editors: Claudia Maedler, Inal Ersan
To contact the reporter on this story: Shoshanna Solomon in Tel Aviv at firstname.lastname@example.org
To contact the editor responsible for this story: Claudia Maedler at email@example.com