Amylin Pharmaceuticals, Inc. Announces Pricing Of Convertible Senior Notes
March 31 2004 - 7:09PM
PR Newswire (US)
Amylin Pharmaceuticals, Inc. Announces Pricing Of Convertible
Senior Notes SAN DIEGO, Calif., March 31 /PRNewswire-FirstCall/ --
Amylin Pharmaceuticals, Inc. announced today the pricing of a
private placement of $175 million aggregate principal amount of
2.5% convertible senior notes due 2011. The offering is being made
pursuant to an exemption from registration under the Securities Act
of 1933, as amended. The private placement is expected to close on
April 6, 2004, subjectto customary closing conditions. The notes
will be initially convertible at the option of the holder into
Amylin common stock at a conversion price of $34.35 per share,
subject to adjustment in certain circumstances. The initial
conversion price represents a 45% premium over the closing bid
price of Amylin common stock on March 31, 2004, which was $23.69
per share. Amylin has also granted the initial purchasers of the
notes an option to purchase up to an additional $25 million in
aggregate principal amount of the convertible senior notes. As
previously announced, Amylin intends to use the net proceeds of
this offering to continue research and development, fund operating
expenses, establish manufacturing sources and inventory, pursue
regulatory approvals and expand its commercialization capabilities
as necessary. 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 the 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 of1933, 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 offering is subject to the
satisfaction of various closing conditions. DATASOURCE: Amylin
Pharmaceuticals, Inc. CONTACT: Mark G. Foletta, Vice President of
Finance and Chief Financial Officer of Amylin Pharmaceuticals,
Inc., +1-858-552-2200 Web site: http://www.amylin.com/
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