Navigation Links
PDL BioPharma Provides Clarification Regarding Redemption of Its 2.75% Convertible Subordinated Notes

INCLINE VILLAGE, Nev., Sept. 10 /PRNewswire-FirstCall/ -- PDL BioPharma, Inc. (PDL) (Nasdaq: PDLI) affirmed that on September 15, 2010 it will redeem all of the Company's outstanding 2.75% Convertible Subordinated Notes, due August 16, 2023 (the "2023 Notes"). Holders of the 2023 Notes have been provided notice of the redemption by the trustee for the Notes.  

Those 2023 Note holders who elect to convert their 2023 Notes into the Company's common stock on or before September 14, 2010, rather than have their 2023 Notes redeemed, will be stockholders of record for the Company's October 1, 2010 dividend payment of $0.50 per share of common stock. Such 2023 Note holders will receive the dividend even though they will have converted their notes after the ex-dividend date of September 13, 2010. The conversion rate for the 2023 Notes is 177.1594 shares of common stock per $1,000 principal amount or $5.64 per share.

About PDL BioPharma

PDL pioneered the humanization of monoclonal antibodies and, by doing so, enabled the discovery of a new generation of targeted treatments for cancer and immunologic diseases. PDL is focused on maximizing the value of its antibody humanization patents and related assets. The Company receives royalties on sales of a number of humanized antibody products marketed today based on patents that expire in late 2014. For more information, please visit

NOTE: PDL BioPharma and the PDL BioPharma logo are considered trademarks of PDL BioPharma, Inc.

Forward-looking Statements

The foregoing statements regarding PDL's intentions with respect to the cash special dividend payment described above are forward-looking statements under the Private Securities Litigation Reform Act of 1995, and actual results could vary materially from the statements made. PDL's ability to pay the special dividend described above is subject to various risks, many of which are outside its control, including prevailing conditions in the capital markets, the continued strength of its royalty assets and other risks and uncertainties as detailed from time to time in the reports filed by PDL with the Securities and Exchange Commission.

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

Related biology technology :

1. Keryx Biopharmaceuticals, Inc. to Hold Conference Call on Second Quarter 2008 Financial Results on Monday, August 11, at 8:30 A.M. EDT
2. Canopus Biopharma and Leading Chinese Researcher Team Up to Treat Avian Influenza, to Prevent Possible Pandemic
3. Ondine Biopharma Announces Second Quarter 2008 Financial Results
4. ARCA biopharma Appoints William R. Hiatt as Director of Clinical and Regulatory Strategy
5. XTL Biopharmaceuticals Receives Notice of Non-Compliance with Nasdaq Marketplace Rule Due to Changes in Board Composition
6. Leading Biopharmas Will Deliver Case Studies on Achieving Productivity Excellence through Engagement, Technology, Other Tools
7. Therapure Biopharma Inc. opens for business with first client contracts
8. Top Biopharma Company Adopts BioFortis Translational Research Software for Centralized Management and Mining of Clinical Biomarker Data
9. China Biopharma Effects 1 for 100 Reverse Stock Split
10. Cyntellect Launches CellXpress(TM) System to Boost Productivity of Biopharmaceutical Process Development
11. FDA Accepts New Drug Application for Bucindolol, A Genetically-Targeted Treatment for Heart Failure From ARCA biopharma
Post Your Comments:
(Date:11/25/2015)... Md. , Nov. 25, 2015  PharmAthene, Inc. ... Directors has adopted a stockholder rights plan (Rights Plan) ... net operating loss carryforwards (NOLs) under Section 382 of ... --> PharmAthene,s use of its NOLs ... "ownership change" as defined in Section 382 of the ...
(Date:11/25/2015)... ANGELES and HOLLISTON, Mass. ... Technology, Inc. (Nasdaq: HART ), a biotechnology company ... that CEO Jim McGorry will present at ... December 1, 2015 at 2:30 p.m. PT. The presentation ... below) for 30 days. Management will also be available ...
(Date:11/25/2015)... ... November 25, 2015 , ... ... Organization of Black Aerospace Professionals (OPBAP) has been formalized with the signing of ... team leaders met with OPBAP leaders Capt. Karl Minter and Capt. Albert Glenn ...
(Date:11/25/2015)... ... November 25, 2015 , ... Jessica Richman ... AngelList early in their initial angel funding process. Now, they are paying it ... to make early stage investments in the microbiome space. In this, they ...
Breaking Biology Technology:
(Date:11/10/2015)... About signature verification Signature ... identify and verify the identity of an individual ... secure and accurate method of authentication and is ... because each individual,s signature is highly unique. Signature ... signature of an individual is compared and matched ...
(Date:11/9/2015)... 2015  Synaptics Inc. (NASDAQ: SYNA ), the ... entry into the automotive market with a comprehensive and ... of consumer electronics human interface innovation. Synaptics, industry-leading touch ... the automotive industry and will be implemented in numerous ... , Japan , and ...
(Date:11/2/2015)... MENLO PARK, Calif. , Nov. 2, 2015 /PRNewswire/ ... to $9 million to provide preclinical development services to ... Under the contract, SRI will provide scientific expertise, modern ... a wide variety of preclinical pharmacology and toxicology studies ... --> --> The PREVENT Cancer Drug ...
Breaking Biology News(10 mins):