SAN
DIEGO, Jan. 11, 2023 /PRNewswire/
-- Halozyme Therapeutics, Inc. (NASDAQ: HALO) ("Halozyme")
today announced that it has elected to redeem on March 17, 2023 (the "Redemption Date") all of its
outstanding 1.25% convertible senior notes due 2024 (the "Notes")
pursuant to Section 4.03 of the Indenture, dated as of November 18, 2019 (the "Indenture"), between
Halozyme and The Bank of New York Mellon Trust Company, N.A., as
trustee (in such capacity, the "Trustee"). Halozyme has
delivered a notice of redemption to the Trustee.
Holders of the Notes may convert their Notes at any time prior
the close of business on the Business Day prior to the Redemption
Date, at a conversion rate equal to 42.0331 shares of Halozyme's
common stock per $1,000 principal
amount of the Notes, which is equivalent to a Conversion Price of
approximately $23.79 per share.
In accordance with Section 5.03(A) of the Indenture, Halozyme
has elected to settle any conversions by delivering a combination
of cash and stock with cash in an amount of $1,000 per $1,000
principal amount of the Notes, and the remainder in Halozyme's
common stock, together with cash, if applicable, in lieu of
delivering any fractional shares of common stock.
Any Notes which have not been converted will be redeemed on the
Redemption Date at a price equal to 100% of the principal amount of
the Notes to be redeemed, plus accrued and unpaid interest to, but
excluding, the Redemption Date.
A copy of the notice of redemption may be obtained from The Bank
of New York Mellon Trust Company, N.A., as trustee and paying
agent.
About Halozyme
Halozyme is a biopharmaceutical company bringing disruptive
solutions to significantly improve patient experiences and outcomes
for emerging and established therapies. As the innovators of the
ENHANZE® technology with the proprietary enzyme rHuPH20,
Halozyme's commercially-validated solution is used to facilitate
the delivery of injected drugs and fluids in order to reduce the
treatment burden to patients. Having touched more than 600,000
patient lives in post-marketing use in five commercialized products
across more than 100 global markets, Halozyme has licensed its
ENHANZE® technology to leading pharmaceutical and
biotechnology companies including Roche, Takeda, Pfizer, AbbVie,
Eli Lilly, Bristol-Myers Squibb, Alexion, argenx, Horizon
Therapeutics, ViiV Healthcare and Chugai Pharmaceutical.
Halozyme also develops, manufactures and commercializes, for
itself or with partners, drug-device combination products using its
advanced auto-injector technology that are designed to provide
commercial or functional advantages such as improved convenience
and tolerability, and enhanced patient comfort and adherence. The
Company has a commercial portfolio of proprietary products
including XYOSTED®, TLANDO® and
NOCDURNA® and partnered commercial products and ongoing
product development programs with several pharmaceutical companies
including Teva Pharmaceutical, Covis Pharma, Pfizer and Idorsia
Pharmaceuticals.
Halozyme is headquartered in San
Diego, CA and has offices in Ewing, NJ and Minnetonka, MN. Minnetonka is also the site of its operations
facility.
Forward-Looking
Statements
This press release may include forward-looking statements as
defined in the Private Securities Litigation Reform Act of 1995, as
amended. Forward-looking statements are statements that are not
historical facts and may include projections and estimates and
their underlying assumptions, statements regarding plans,
objectives, intentions and expectations with respect to future
financial results, events, operations, services, product
development and potential and statements regarding future
performance. Forward-looking statements are generally identified by
the words "expects", "anticipates", "believes", "intends",
"estimates", "plans", "will be" and similar expressions and include
statements in this press release related to Halozyme's intention to
redeem all of the outstanding Notes. Although Halozyme believes
that the expectations reflected in such forward-looking statements
are reasonable, investors are cautioned that forward-looking
information and statements are subject to various risks and
uncertainties, many of which are difficult to predict and generally
beyond the control of Halozyme, that could cause actual results and
developments to differ materially from those expressed in the
forward-looking information and statements. Actual results could
differ materially from the expectations contained in these
forward-looking statements as a result of several factors,
including unexpected delays in the redemption of the Notes. These
and other factors that may result in differences are discussed in
greater detail in the Company's most recently filed Annual Report
on Form 10-K and Quarterly Reports on Form 10-Q filed with the
Securities and Exchange Commission.
Contacts:
Tram Bui
VP, Investor Relations and Corporate Communications
609-359-3016
tbui@antarespharma.com
Dawn Schottlandt / Claudia Styslinger
Argot Partners
212-600-1902
Halozyme@argotpartners.com
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SOURCE Halozyme Therapeutics, Inc.