BOULDER, Colo., Dec. 4, 2017 /PRNewswire/ -- Array BioPharma
Inc. (Nasdaq: ARRY) ("Array" or the "Company") today announced that
it has called for redemption approximately $6.2 million of its 3.00% Convertible Senior
Notes due 2020 (the "2020 Notes") representing all remaining 2020
Notes outstanding. The redemption will be made in accordance
with the terms of the indenture governing the 2020 Notes and the
terms of the redemption notice.
Any Notes outstanding on January 3,
2018 will be redeemed in cash for 100% of the principal
amount thereof, plus accrued and unpaid interest to, but excluding
the redemption date. Holders may convert their 2020 Notes
into shares of Array's common stock, plus cash in lieu of any
fractional share, if applicable, at a conversion rate of 147.5566
shares of common stock per $1,000
principal amount of 2020 Notes at any time prior to the close of
business on January 2, 2018 upon
satisfaction of the requirements set forth in the indenture
governing the 2020 Notes.
A redemption notice is being delivered to all holders of the
2020 Notes through Wells Fargo Bank, National Association, the
trustee under the indenture. Copies of the redemption notice
and additional information relating to the procedures for
redemption and conversion may be obtained from Wells Fargo Bank,
National Association, by calling (800) 344-5128.
This announcement is for informational purposes only and is not
an offer to purchase or sell or a solicitation of an offer to
purchase or sell, with respect to any securities.
About Array BioPharma
Array BioPharma Inc. is a
biopharmaceutical company focused on the discovery, development and
commercialization of targeted small molecule drugs to treat
patients afflicted with cancer. Nine registration studies are
currently advancing related to seven Array-owned or partnered
drugs: binimetinib (MEK162), encorafenib (LGX818), selumetinib
(partnered with AstraZeneca), danoprevir (partnered with Roche),
ipatasertib (partnered with Genentech), larotrectinib (partnered
with Loxo Oncology) and tucatinib (partnered with Cascadian
Therapeutics).
Certain statements contained herein may constitute
"forward-looking statements" within the meaning of the Private
Securities Litigation Reform Act of 1995. These
forward-looking statements are not historical facts and are based
on current expectations, estimates and projections about the
Company's industry, management's beliefs and certain assumptions
made by management, many of which, by their nature, are inherently
uncertain and beyond our control. Accordingly, readers are
cautioned that any such forward-looking statements are not
guarantees of future performance and are subject to certain risks,
uncertainties and assumptions that are difficult to predict
including, without limitation, risks and uncertainties related to
market conditions and satisfaction of closing conditions related to
the redemption and such other factors as are set forth in the risk
factors detailed from time to time in the Company's periodic
reports filed with the Securities and Exchange Commission ("SEC")
including, without limitation, the risk factors detailed in the
Company's Annual Report on Form 10-K for the year ended
June 30, 2017. Since such
statements involve risks and uncertainties, the actual results and
performance of the Company may turn out to be materially different
from the results expressed or implied by such forward-looking
statements, and readers are cautioned not to place undue reliance
on such forward-looking statements. Readers should carefully review
the risks and uncertainties disclosed in the Company's reports with
the SEC, including, without limitation, those detailed under the
heading "Risk Factors" in the Company's Annual Report on Form 10-K
for the year ended June 30, 2017, and
in other reports or documents the Company files with, or furnishes
to, the SEC from time to time. The information in this press
release is as of December 4, 2017,
and the Company disclaims any obligation to update any such risks
or uncertainties or to announce publicly the result of any changes
to the forward-looking statements made herein, unless otherwise
required by law.
CONTACT:
|
Tricia
Haugeto
|
|
(303)
386-1193
|
|
thaugeto@arraybiopharma.com
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SOURCE Array BioPharma Inc.