Pacific Ethanol, Inc. (Nasdaq:PEIX) provided an update on its senior convertible notes. The aggregate unpaid principal balance of the notes, originally $35.0 million as of October 6, 2010, has declined from $10.5 million as of September 1, 2011 to $8.4 million as of October 3, 2011. To date, a total of $25.4 million in principal has been converted into 32.7 million common shares, at an average conversion price of $0.78 per share.

Pacific Ethanol, Inc. produces and markets low carbon renewable fuels in the western United States, primarily in California, Nevada, Arizona, Oregon, Colorado, Idaho, and Washington.

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