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InterMune Announces Pricing of Concurrent Public Offerings of 4,000,000 Shares of Common Stock and $135 Million Principal Amount of Convertible Senior Notes
Date:9/13/2011

BRISBANE, Calif., Sept. 13, 2011 /PRNewswire/ -- InterMune, Inc. (Nasdaq: ITMN) today announced that it has agreed to sell an aggregate of 4,000,000 shares of its common stock at a price to the public of $24.00 per share and $135.0 million aggregate principal amount of its 2.50% convertible senior notes due 2018 in concurrent underwritten public offerings.  InterMune has granted the underwriters 30-day options to purchase up to an additional 600,000 shares of its common stock and up to an additional $20.25 million aggregate principal amount of its convertible senior notes. InterMune estimates aggregate net proceeds from the concurrent offerings to be $221.9 million (assuming no exercise of the underwriters' options to purchase additional shares of common stock and convertible senior notes), after deducting underwriting discounts and commissions and estimated offering expenses.  InterMune currently intends to use the net proceeds from the offerings to fund the commercial launch of Esbriet® in the European Union, to fund its ASCEND trial and for general corporate purposes.  All of the shares of common stock and convertible senior notes are being offered by InterMune.

The convertible notes will bear interest at a rate of 2.50% per year, payable on September 15 and March 15 of each year, commencing on March 15, 2012.  The convertible senior notes will mature on September 15, 2018.  If InterMune undergoes a "fundamental change" (as defined in the prospectus supplement relating to the convertible senior notes), holders of the convertible senior notes will have the option to require InterMune to repurchase all or any portion of their notes at 100% of par, plus accrued and unpaid interest up to, but not including, the repurchase date.  

Holders of convertible senior notes may surrender their notes, in integral multiples of $1,000 principal am
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SOURCE InterMune, Inc.
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