Navigation Links
PDL BioPharma Announces Retirement of $61.6 Million of 2.75% Convertible Notes due August 2023 for Common Stock
Date:8/5/2010

INCLINE VILLAGE, Nev., Aug. 5 /PRNewswire-FirstCall/ -- PDL BioPharma, Inc. (PDL) (Nasdaq: PDLI) announced today that it has entered into separate privately negotiated agreements under which it will retire $61.6 million in aggregate principal amount of the Company's outstanding 2.75% Convertible Subordinated Notes, due August 16, 2023 (the "2023 Notes") for consideration consisting of the issuance of the number of shares of common stock for which those 2023 Notes were convertible by their terms plus 184,677 additional shares issued as an inducement for such holders to surrender their 2023 Notes at this time.  The holders will also receive a cash payment for accrued and unpaid interest on the Notes.  The transaction was structured as an exchange of the 2023 Notes for the stock and reflected a price per share (based on the principal amount of debt retired) of approximately $5.55 per share.  Following the exchange, $54.3 million in aggregate principal amount of the 2023 Notes will remain outstanding.

The Company also announced that it provided the trustee of the 2023 Notes with notice of its intention to redeem all remaining 2023 Notes on September 15, 2010.  The Company reaffirms its previously announced dividend of $0.50 per share to be paid on October 1, 2010 to all stockholders of record on September 15, 2010.  

About PDL BioPharma

PDL pioneered the humanization of monoclonal antibodies and
'/>"/>

SOURCE PDL BioPharma, Inc.
Copyright©2010 PR Newswire.
All rights reserved

Page: 1 2 3

Related biology technology :

1. Therapure Biopharma Inc. Signs Biomanufacturing Contract with Diamedica Incorporated
2. Caliper Owners Group Meeting Showcases Critical Role of Biopharma and Academic Researchers for Improving Healthcare and Quality of Life
3. Progenika Biopharma Grants Grifols World-Wide Distribution Rights for the BLOODCHIP® Genotyping Test for Blood Donors
4. Therapure Biopharma Inc. Signs Biomanufacturing Contract with ProChon Biotech Ltd.
5. Chinese Biopharmaceutical Association Holds 15th Annual Conference in Rockville, MD, June 12 - 13
6. IntraLinks Announces Partnership With SAFE-BioPharma; Will Provide Digital Identity Capabilities With its Life Sciences Solutions
7. PDL BioPharma to Announce First Quarter 2010 Financial Results and Hold Conference Call on April 29, 2010
8. PDL BioPharma Announces Fourth Quarter and Full Year 2009 Financial Results and Provides First Quarter 2010 Revenue Guidance
9. ClearTrial Launches New Service to Bring Speed and Accuracy in Clinical Trial Planning Within Reach of Smaller Biopharma Companies
10. Indiana Biopharmaceutical Service Providers Maintain Steady Growth Despite Industry Challenges
11. SynCo Bio Partners Signs New Manufacturing Agreements to Supply the US Market; Securing its Position as a Market Leader in Microbial Biopharmaceutical Contract Production
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:5/5/2015)... VetStem Biopharma, proudly announces former ... Schaffer, DVM, as Director of Veterinary Professional Services. ... experience in the veterinary regenerative medicine field Dr ... veterinarian lead organization”. Dr. Alexis Nahama, President ... be responsible for all technical activities in relationship ...
(Date:5/5/2015)... Psyche Systems Corporation and Luminate Health have ... platform that helps labs comply with new federal HHS ... way patients engage with these results, and improves provider ... a HIPAA-compliant digital platform that gives labs an easy ... lab results, and uniquely connects labs, physicians, and patients ...
(Date:5/5/2015)... , May 5, 2015  Renova™ Therapeutics, a ... heart failure and other chronic diseases, has engaged ... analysis designed to reflect the healthcare patterns of ... model will be used to characterize the impact ... have on those groups of patients and the ...
(Date:5/5/2015)... 5, 2015  A group of biotechnology executives and ... Research Institute, a non-profit organization dedicated to providing education, ... from disorders of consciousness.  ... ... which no voluntary actions can be initiated by the ...
Breaking Biology Technology:Leading Regenerative Veterinary Medicine Company, VetStem Biopharma announces the addition of Dr Jeffrey Schaffer as the Director of Veterinary Professional Services. 2Psyche Systems Corporation Forms Strategic Alliance with Luminate Health to Provide First-of-its-kind Patient Access Solution 2Psyche Systems Corporation Forms Strategic Alliance with Luminate Health to Provide First-of-its-kind Patient Access Solution 3RAND Health Advisory Services modeling heart failure patient outcomes to inform potential impact of Renova Therapeutics lead product candidate 2RAND Health Advisory Services modeling heart failure patient outcomes to inform potential impact of Renova Therapeutics lead product candidate 3Biotechnology Executives and Medical Doctors Team Up to Tackle Coma and Disorders of Consciousness 2Biotechnology Executives and Medical Doctors Team Up to Tackle Coma and Disorders of Consciousness 3Biotechnology Executives and Medical Doctors Team Up to Tackle Coma and Disorders of Consciousness 4Biotechnology Executives and Medical Doctors Team Up to Tackle Coma and Disorders of Consciousness 5
... 15 /PRNewswire-Asia-FirstCall/ -- China Integrated,Energy, Inc. (Nasdaq: CBEH ; ... announced its selected unaudited,preliminary financial results for the third quarter ... sales to be at least $71 million and net income ... 4.4%,respectively, compared to the third quarter of 2008. , ...
... , BRIARCLIFF MANOR, N.Y., Oct. 15 The mission ... is to advance the medical publication profession through education ... growing misperceptions in the medical literature and lay press ... such as the perception that all medical writing is ...
... Cytochroma today announced that it has appointed John Cunningham, ... Advisory Board. , Dr. Cunningham is Professor of Nephrology ... at the Royal Free Hospital, London. His early training ... in The University of London and Washington University ...
Cached Biology Technology:China Integrated Energy, Inc. Announces Preliminary Third Quarter Financial Results and Increases Full Year Guidance 2ISMPP Supports Best Practices and Transparency in Medical Publications: Better Understanding of Terms Such as 'Ghostwriting' Needed 2ISMPP Supports Best Practices and Transparency in Medical Publications: Better Understanding of Terms Such as 'Ghostwriting' Needed 3Cytochroma Appoints Dr. John Cunningham to its Scientific Advisory Board 2Cytochroma Appoints Dr. John Cunningham to its Scientific Advisory Board 3
(Date:3/30/2015)... DUBLIN , Mar. 26, 2015 Research and ... addition of the "Global Gesture Recognition Market in ... The analysts forecast the Global Gesture Recognition market ... 12.8% over the period 2013-2018. Gesture recognition ... respond to different gestures of an individual. Gesture recognition ...
(Date:3/24/2015)... and Markets ( http://www.researchandmarkets.com/research/kvdtcw/face_and_voice ) has announced the addition ... Report" report to their offering. This report analyzes ... by the following Segments: Face Biometrics, and Voice Biometrics. The report ... , Japan , Europe , ... & Africa , and Latin America ...
(Date:3/23/2015)... -- SoundView Technology Group issues a new research update following ... smart wallet. SoundView was one of the selected user groups to ... Wocket in multiple scenarios and outlets. Soundview ... making both debit and credit card payments.  ... company meets their plans in 2015, it would push our ...
Breaking Biology News(10 mins):Global Gesture Recognition Market in Automotive Sector Report 2015 - Growing Number of Partnerships 2Face and Voice Biometrics - Global Strategic Business Report 2015: Face Recognition Gains Prominence in Immigration Control 2Face and Voice Biometrics - Global Strategic Business Report 2015: Face Recognition Gains Prominence in Immigration Control 3Face and Voice Biometrics - Global Strategic Business Report 2015: Face Recognition Gains Prominence in Immigration Control 4Face and Voice Biometrics - Global Strategic Business Report 2015: Face Recognition Gains Prominence in Immigration Control 5Face and Voice Biometrics - Global Strategic Business Report 2015: Face Recognition Gains Prominence in Immigration Control 6Technology Research Note Update from SoundView; Real-World Usage and Feedback of Wocket Smart Wallet at CVS, Whole Foods and other Retailers 2Technology Research Note Update from SoundView; Real-World Usage and Feedback of Wocket Smart Wallet at CVS, Whole Foods and other Retailers 3Technology Research Note Update from SoundView; Real-World Usage and Feedback of Wocket Smart Wallet at CVS, Whole Foods and other Retailers 4
... ?one from Louisiana, one from Japan and one ... to involvement of endocannabinoids as a novel neural ... in eating, disease treatment and social behavior. , ... team from Tulane and Louisiana State Universities, led ...
... as fertility drugs may be ineffective for women who ... study showed that fertility drugs did not improve ovulation ... estrogen receptor beta. The estrogen receptor beta is one ... of estrogen hormones and are present throughout the female ...
... extension in yeast have been identified by researchers from UC ... or caloric restriction, is known to extend the lifespan of ... gene called Sir2 with lifespan extension due to caloric restriction, ... when put on a tough diet, showing that some other ...
Cached Biology News:Endocannabinoids ?the brain's cannabis ?demonstrate novel modes of action to stress 2New Discovery May Help Doctors Treat Infertility 2New Discovery May Help Doctors Treat Infertility 3
Human/Mouse/Rat LAR Affinity Purified PAb...
X-Gal, 100 mg. 5-Bromo-4-chloro-3-indolyl-b-d-galactoside.Histochemical substrate for b-galactosidase, used in blue/white screening.Store at -20 C. Protect from moisture. Category: Nucleotides & Enzy...
Human Jagged 2 Biotinylated Affinity Purified PAb...
ras-related C3 botulinum toxin substrate 2 (rho family, small GTP binding protein Rac2)...
Biology Products: