Amylin Pharmaceuticals, Inc. Announces Exercise of Initial Purchasers' Option for Additional $75 Million of Convertible Senior N
June 06 2007 - 8:00AM
PR Newswire (US)
SAN DIEGO, June 6 /PRNewswire-FirstCall/ -- Amylin Pharmaceuticals,
Inc. (NASDAQ:AMLN) today announced that the initial purchasers in
its recent private placement of $500 million of 3.00% convertible
senior notes due 2014 have elected to exercise their option to
purchase an additional $75 million in principal amount of the
notes. The offering is being made pursuant to an exemption from
registration under the Securities Act of 1933, as amended. The
exercise of the option will bring the gross proceeds of the private
placement to $575 million upon closing. Amylin estimates that the
net proceeds from this offering will be approximately $558.9
million after deducting initial purchasers' discounts and estimated
expenses. The closing for the additional $75 million purchase is
expected to occur concurrently with the closing for the initial
$500 million sale of notes on June 8, 2007, subject to customary
closing conditions. This press release does not constitute an offer
to sell or the solicitation of an offer to buy securities. The
offering is being made within the United States only to qualified
institutional buyers. The convertible senior notes being offered
and the common stock issuable upon conversion of the convertible
senior notes have not been registered under United States or state
securities laws and may not be offered or sold in the United States
absent registration or an applicable exemption from the
registration requirements. The statements in this press release
that are not historical facts are forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended, and may involve a number of risks and uncertainties. For
example, the completion of the closing of the option exercise and
the closing of the initial sale of notes are subject to the
satisfaction of various closing conditions. http://www.amylin.com/
DATASOURCE: Amylin Pharmaceuticals, Inc. CONTACT: Mark Foletta,
Senior Vice President, Finance and Chief Financial Officer of
Amylin Pharmaceuticals, Inc., +1-858-552-2200 Web site:
http://www.amylin.com/
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