Array BioPharma Inc. (ARRY) announced that it has priced underwritten public offering of $115 million of convertible senior notes. The company anticipates to close the offering on or about June 10, 2013.
Array BioPharma also granted underwriters a 30-day option to purchase up to an additional $17.25 million of convertible senior notes.
Array BioPharma expects offering net proceeds to be $111.3 million after deducting expenses. The company plans to use about $92.6 million of the net proceeds to repay its outstanding secured indebtedness, with the remaining proceeds expected to be used for general corporate purposes.
The notes will bear interest at a rate of 3.0% per year, payable semi-annually, and will mature on June 1, 2020. The notes will be convertible by the holders beginning March 1, 2020, or earlier upon specified events, and upon conversion, the holders will receive, at Array's option, shares of Array's common stock, cash or a combination of shares and cash.
For comments and feedback contact: editorial@rttnews.com
Business News
June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.