Navigation Links
Isis Pharmaceuticals Announces Proposed Offering of $175 Million of Convertible Senior Notes
Date:8/6/2012

CARLSBAD, Calif., Aug. 6, 2012 /PRNewswire/ -- Isis Pharmaceuticals, Inc. (NASDAQ: ISIS) announced today that it intends to offer, subject to market and other considerations, $175.0 million aggregate principal amount of Convertible Senior Notes due 2019 (the "Convertible Notes") in a private placement.  Isis also intends to grant to the initial purchasers of the Convertible Notes a 30-day option to purchase up to an additional $26.25 million aggregate principal amount of the Convertible Notes solely to cover over-allotments.  Isis may use a portion of the net proceeds of this offering to repurchase a portion of its outstanding 2 5/8% Convertible Subordinated Notes due 2027 (the "Existing Convertible Notes") in individually negotiated transactions concurrently with the offering.  In addition, following completion of the offering, Isis intends to use the remainder of the proceeds to repurchase from time to time, or redeem, the Existing Convertible Notes, and for general corporate and working capital purposes.

The Convertible Notes will be general unsecured senior obligations of Isis and will accrue interest payable semiannually in arrears.  The Convertible Notes will be convertible under certain circumstances, and Isis will settle conversions of the Convertible Notes by paying or delivering, as the case may be, cash, shares of its common stock or a combination of cash and shares of its common stock, at its election.  The interest rate, conversion rate and other terms of the Convertible Notes will be determined at the time of pricing of the offering.

The offering is being made to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended.  Neither the Convertible Notes nor any shares of Isis' common stock issuable upon conversion of the Convertible Notes have been or are expected to be registered under the Securities Act or under any state securities laws and, unless so registered, may not be offered or sold in the United States or to U.S. persons except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state securities laws.  This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall it constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale is unlawful.

This press release includes forward-looking statements regarding Isis' financing plans, including statements related to Isis' offering of the Convertible Notes and intended use of net proceeds of the offering. Such statements are subject to certain risks and uncertainties including, without limitation, risks related to whether Isis will consummate the offering of the Convertible Notes on the expected terms, or at all, market and other general economic conditions, whether Isis will be able to satisfy the conditions required to close any sale of the Convertible Notes, the fact that Isis' management will have broad discretion in the use of the proceeds from any sale of the Convertible Notes and Isis' ability to successfully repurchase any of its Existing Convertible Notes on acceptable terms, or at all. Isis' forward-looking statements also involve assumptions that, if they never materialize or prove correct, could cause its results to differ materially from those expressed or implied by such forward-looking statements.  Although Isis' forward-looking statements reflect the good faith judgment of its management, these statements are based only on facts and factors currently known by Isis.  As a result, you are cautioned not to rely on these forward-looking statements.  These and other risks concerning Isis' programs are described in additional detail in Isis' annual report on Form 10-K for the year ended December 31, 2011 and its most recent quarterly report on Form 10-Q, which are on file with the SEC.

Isis Pharmaceuticals® is a registered trademark of Isis Pharmaceuticals, Inc. 


'/>"/>
SOURCE Isis Pharmaceuticals, Inc.
Copyright©2012 PR Newswire.
All rights reserved

Related medicine technology :

1. Savient Pharmaceuticals to Present at the Canaccord Genuity 32nd Annual Growth Conference
2. TWi Pharmaceuticals Announces Positive Phase IIb Clinical Trial Results of AC-201 in Patients with Type 2 Diabetes.
3. Savient Pharmaceuticals Adopts Stockholder Rights Plan
4. OncoGenex Pharmaceuticals, Inc. Reports Second Quarter and First-Half 2012 Financial Results and Reviews Clinical Development Highlights for Custirsen and OGX-427
5. Cumberland Pharmaceuticals Reports Second Quarter 2012 Financial Results
6. Arena Pharmaceuticals to Host Business and Financial Update Conference Call and Webcast on Thursday, August 9
7. Global Pharmaceuticals Market 2011-2015
8. Onyx Pharmaceuticals Reports Second Quarter 2012 Financial Results
9. MAP Pharmaceuticals, Inc. Prices Public Offering of Common Stock
10. Avanir Pharmaceuticals Announces Date Of Fiscal 2012 Third Quarter Financial Results And Conference Call
11. AcelRx Pharmaceuticals Receives Two Additional U.S. Patents for Small-Volume Oral Transmucosal Dosage Forms
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:12/8/2016)... , Dec. 8, 2016  A new study by ... the use of opioid therapy to treat chronic pain ... likelihood of more harmful consequences, including death. ... and Zankhana Mehta , M.D., authored the study ... chronic opioid therapy. The study was published in the ...
(Date:12/8/2016)... NORWALK, Connecticut , 8. Dezember 2016 Mederi Therapeutics Inc ... Stretta-Therapie – eine nicht-operative Behandlungsmethode für gastroösophageale Refluxerkrankung (GERD) – in ... Reading ... Live ... by Professor Jun Liu, Director of Endoscopy at Wuhan Union Hospital ...
(Date:12/8/2016)... According to the research report, the ... is expected to be worth US$9.7 bn by the end ... the forecast years of 2016 and 2024, the global market ... leading players operating in the global diabetes injection pens market ... Biocon Ltd., and Sanofi S.A. Transparency Market Research reports that ...
Breaking Medicine Technology:
(Date:12/8/2016)... Peachtree City, Ga (PRWEB) , ... December 08, ... ... and moving as soon after surgery as possible. With this in mind, SIGVARIS ... vein thrombosis (DVT or blood clot) during bed rest and provide the benefits ...
(Date:12/8/2016)... ... 2016 , ... The Dan Carlisle Agency, an Alabama-owned firm ... announcing the launch of a charity drive to raise support and awareness for ... children in Birmingham has grown steadily since the 1980’s, and the Pathways organization ...
(Date:12/8/2016)... ... December 08, 2016 , ... ... to families and business owners in and around central Kansas, is joining the ... at-risk youth in the region. , Headquartered in Wichita, Youth Horizons works to ...
(Date:12/7/2016)... ... December 07, 2016 , ... Children exposed to secondhand marijuana ... the Icahn School of Medicine at Mount Sinai has found. The study was ... children are exposed to secondhand marijuana smoke, measurable amounts of primary metabolite of ...
(Date:12/7/2016)... ... 07, 2016 , ... In the early morning of October 30, Newton County ... when he lost control of his patrol car. The vehicle overturned into an embankment, ... transported to Atlanta Medical Center, where he later succumbed to his injuries. Justin White ...
Breaking Medicine News(10 mins):