Isis Pharmaceuticals Inc. (ISIS) said it has priced its offering of $201.25 million aggregate principal amount of Convertible Senior Notes due 2019 in a private placement, including $26.25 million aggregate principal amount of the Convertible Senior Notes due 2019 being sold pursuant to the exercise in full of the initial purchasers' over-allotment option. The sale of the Convertible Notes may close on August 13, 2012.
The company expects the net proceeds from this offering to be around $194.8 million, after deducting discounts to the initial purchasers and estimated offering expenses payable by Isis. Following this, Isis plans to use a substantial portion of the net proceeds of this offering to redeem its outstanding 2 ?% Convertible Subordinated Notes due 2027, and the remainder of the proceeds for general corporate and working capital purposes.
The Convertible Notes would bear interest at a fixed rate of 2 3/4% per year, payable semiannually in arrears on April 1 and October 1 of each year, beginning on October 1, 2012, according to the company. The Convertible Notes would mature on October 1, 2019, unless earlier purchased, redeemed or converted.
For comments and feedback contact: editorial@rttnews.com
Business News
June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.