Navigation Links
PharmaNet Extends Expiration Time in its Tender Offer and Consent Solicitation

PRINCETON, N.J., June 29, 2011 /PRNewswire/ -- PharmaNet Development Group, Inc. (the "Company" or "PharmaNet") announced today that, in connection with its cash tender offer and consent solicitation (the "Offer") for any and all of its outstanding 10 7/8% Senior Secured Notes due 2017 (the "Notes"), it has elected to extend the expiration date of the Offer to 5:00 p.m., New York City time, on July 6, 2011, unless extended or earlier terminated (the "Expiration Time") from midnight, New York City time, on June 28, 2011.

Pursuant to the Offer, withdrawal rights expired at 5:00 p.m., New York City time, on June 9, 2011. Notes tendered and consents delivered pursuant to the Offer may no longer be withdrawn.

The Offer is subject to a number of conditions that are set forth in the Offer to Purchase and Consent Solicitation Statement dated May 26, 2011 (the "Offer to Purchase"), including, without limitation, the consummation of the Transaction (as defined in the Offer to Purchase), as more fully described in the Offer to Purchase.

As of 5:00 p.m., New York City time, on June 28, 2011, PharmaNet received tenders of Notes subject to the Offer totaling approximately $171,000,000, or approximately 92%, of the outstanding principal amount of the Notes.

The Company has engaged Jefferies & Company, Inc. and UBS Securities LLC as Dealer Managers and Solicitation Agents for the Offer. Persons with questions regarding the Offer should contact Jefferies at (888) 708-5831 (toll free) or (203) 708-5831 (collect) or UBS Investment Bank at or (888) 719-4210 (toll free) or (203) 719-4210 (collect). Requests for copies of the Offer to Purchase or other tender offer materials may be directed to D.F. King & Co., Inc., the Information Agent, at (800) 967-4607 (toll free).

This press release is for information purposes only and does not constitute an offer to purchase the Notes, a solicitation of an offer to purchase the Notes or a solicitation of a consent to amend the related indenture. The Offer is made solely pursuant to the Offer to Purchase. The Offer is not being made to holders of Notes in any jurisdiction in which the making or acceptance thereof would not be in compliance with the securities, blue sky or other laws of such jurisdiction.

None of the Company, the Dealer Managers and Solicitation Agents, the Information Agent or any other person makes any recommendation as to whether holders of Notes should tender their Notes, and no one has been authorized to make such a recommendation.

Company Information and Forward Looking StatementsPharmaNet is a leading provider of integrated product development services and provides clinical development services, including consulting, Phase I and bioequivalency clinical studies, and Phase II, III and IV clinical development programs, to pharmaceutical, biotechnology, generic drug and medical device companies around the world.

This press release contains forward-looking statements which include, but are not limited to, any statement that may predict, forecast, indicate or imply future results, performance, achievements or events. Forward-looking statements are based upon management's current plans and beliefs or current estimates of future results or trends. These forward-looking statements reflect our current views with respect to future events and are based on assumptions and subject to risks and uncertainties that may cause actual results to differ materially from trends, plans or expectations set forth in the forward-looking statements.

Given these risks and uncertainties, we urge you to read the tender offer materials completely and with the understanding that actual future results may be materially different from what we plan or expect. All of the forward-looking statements made in this press release, including statements related to the Offer, including the Expiration Time, Consent Payment Deadline and possible completion of the Offer, are qualified by these cautionary statements and investors are cautioned not to place undue reliance on these forward-looking statements. In addition, these forward-looking statements present our estimates and assumptions only as of the date hereof, and the Company disclaims any intention or obligation to update any forward-looking statements as a result of developments occurring after the date of this press release, except, with respect to the Offer, as specifically set forth in this press release or as otherwise required by law.Contact:

Lilian G. BurkePharmaNet Development Group,

SOURCE PharmaNet Development Group, Inc.
Copyright©2010 PR Newswire.
All rights reserved

Related biology technology :

1. PharmaNet Extends Consent Payment Deadline for Notes Tendered in Its Tender Offer and Consent Solicitation
2. PharmaNet Announces Tender Offer and Consent Solicitation
3. PharmaNet to Present More Than 20 Posters at the 2010 American Association of Pharmaceutical Scientists Annual Meeting
4. PharmaNet Development Group Experts to Share Insights at the 9th Annual Partnerships in Clinical Trials Conference in Vienna
5. PharmaNet Development Group Appoints Anthony Maida, Vice President, Clinical Research
6. Stephen Kasay Joins PharmaNet Development Group as Chief Information Officer
7. SEC Closes Investigation of PharmaNet Development Group and Recommends No Action
8. Christopher Brennan Joins PharmaNet Development Group as General Counsel
9. PharmaNet Development Group Provides Financial Update and Announces Geographic Expansion
10. PharmaNet Development Group Clinical Research Experts to Present at Global Professional Meetings in June
11. PharmaNet Development Group Gives Notice of Anticipated Fundamental Change and Merger to Holders of Its Convertible Notes
Post Your Comments:
(Date:11/24/2015)... ... ... The United States Golf Association (USGA) today announced Dr. Bruce Clarke, of ... since 1961, the USGA Green Section Award recognizes an individual’s distinguished service to the ... of Iselin, N.J., is an extension specialist of turfgrass pathology in the department of ...
(Date:11/24/2015)... (PRWEB) , ... November 24, 2015 , ... ... maintain healthy metabolism. But unless it is bound to proteins, copper is also ... Health (NIH), researchers at Worcester Polytechnic Institute (WPI) will conduct a systematic study ...
(Date:11/24/2015)... , November 24, 2015 ... new market research report "Oligonucleotide Synthesis Market by Product ... (PCR, Gene Synthesis, Diagnostic, DNA, RNAi), End-User (Research, Pharmaceutical ... published by MarketsandMarkets, the market is expected to reach ... in 2015, at a CAGR of 10.1% during the ...
(Date:11/24/2015)... 2015 --> ... released by Transparency Market Research, the global non-invasive prenatal ... of 17.5% during the period between 2014 and 2022. ... Industry Analysis, Size, Volume, Share, Growth, Trends and Forecast ... market to reach a valuation of US$2.38 bn by ...
Breaking Biology Technology:
(Date:11/4/2015)... 4, 2015 --> ... published by Transparency Market Research "Home Security Solutions Market - ... 2015 - 2022", the global home security solutions market is expected ... 2022. The market is estimated to expand at a ... to 2022. Rising security needs among customers at homes, ...
(Date:10/29/2015)... , Oct. 29, 2015  Rubicon Genomics, Inc., ... U.S. distribution of its DNA library preparation products, ... Rubicon,s new ThruPLEX Plasma-seq kit. ThruPLEX Plasma-seq has ... preparation of NGS libraries for liquid biopsies--the analysis ... and prognostic applications in cancer and other conditions. ...
(Date:10/27/2015)... Munich, Germany , ... (ASGM) automatically maps data from mobile eye tracking videos ... so that they can be quantitatively analyzed with SMI,s ... Germany , October 28-29, 2015. SMI,s Automated Semantic ... eye tracking videos created with SMI,s Eye Tracking ...
Breaking Biology News(10 mins):