Navigation Links
PDL BioPharma Announces Expiration and Preliminary Results of its Exchange Offer
Date:1/3/2012

INCLINE VILLAGE, Nev., Jan. 3, 2012 /PRNewswire/ -- PDL BioPharma, Inc. (PDL) (NASDAQ: PDLI) today announced the expiration and preliminary results of its offer to exchange up to $180,000,000 in aggregate principal amount of outstanding 2.875% Convertible Senior Notes due 2015 (Old Notes), for a like principal amount of new 2.875% Series 2012 Convertible Senior Notes due 2015 (New Notes), and a cash payment.  The name of the New Notes has been amended from the previously-announced "2.875% Series 2011 Convertible Senior Notes due 2015" to reflect the expected issuance of the New Notes in 2012 instead of 2011.

(Logo:  http://photos.prnewswire.com/prnh/20110822/SF55808LOGO)

Based on the preliminary count by The Bank of New York Mellon Trust Company, N.A., the tender and paying agent for the exchange offer, a total of $168,972,000 aggregate principal amount of Old Notes, representing approximately 93.9% of the outstanding principal amount of the Old Notes, were properly tendered for exchange and not withdrawn.

In accordance with the terms and conditions of the exchange offer, and based on the preliminary count by the tender and paying agent, PDL expects to accept for exchange $168,972,000  principal amount of Old Notes for a like principal amount of New Notes and aggregate note exchange payments of $844,860. 

These amounts are preliminary and subject to confirmation by the tender and paying agent. The final results of the exchange offer will be announced promptly following completion of the confirmation process by the tender and paying agent. Settlement of the exchange offer is expected to occur on or around January 5, 2012.

The information agent for the exchange offer is Georgeson Inc. Holders of Old Notes who have questions may call the information agent at (866) 541-3547. Banks and brokers may call (212) 440-9800.

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. Today, PDL is focused on intellectual property asset management, investing in new royalty bearing assets and maximizing the value of its patent portfolio and related assets. For more information, please visit www.pdl.com.

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

 

Exchange Offer Statement
This press release is for informational purposes only and is neither an offer to buy nor the solicitation of an offer to sell the Old Notes.

Forward-looking Statements

This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended.  Each of these forward-looking statements involves risks and uncertainties.  Actual results may differ materially from those, express or implied, in these forward-looking statements.     Important factors that could impair the value of the Company's royalty assets, restrict or impede the ability of the Company to invest in new royalty bearing assets and limit the Company's ability to pay dividends are disclosed in the risk factors contained in the Company's 2010 Annual Report on Form 10-K filed with the Securities and Exchange Commission on March 1, 2011, and updated by subsequent Quarterly Reports on Form 10-Q. All forward-looking statements are expressly qualified in their entirety by such factors. We do not undertake any duty to update any forward-looking statement except as required by law.


'/>"/>
SOURCE PDL BioPharma, Inc.
Copyright©2010 PR Newswire.
All rights reserved

Related medicine technology :

1. Provenance Biopharmaceuticals Corp. Announces $8M Financing Arrangement
2. Inspiration Biopharmaceuticals Expands Leadership Team with Four New Hires
3. PDL BioPharma Provides Fourth Quarter 2011 Revenue Guidance of $72 Million
4. Perceptive Informatics Completes Over 500 System Integrations as the Biopharma Industry Continues to Adopt Seamless eClinical Solutions
5. Keryx Biopharmaceuticals Announces Phase 2 Data for KRX-0401 (Perifosine) in Hodgkins Lymphoma Presented at ASH Meeting
6. Inspiration Biopharmaceuticals Presents Key Scientific Data from its Two Lead Hemophilia Development Programs at the 53rd Annual Meeting of the American Society of Hematology (ASH)
7. NeoStem Appoints a Biopharmaceutical Business Leader and a Cellular Therapy Expert to its Board of Directors
8. Inspiration Biopharmaceuticals Initiates Second Pivotal Clinical Study of Innovative Hemophilia Therapy OBI-1
9. PAREXEL Strengthens Late Phase and Observational Research Capabilities With Expert Team to Help Biopharma Meet Commercialization Goals
10. Genesis Biopharmas Scientific and Medical Advisory Board Welcomes Dr. Steven A. Rosenberg, Chief of the Surgery Branch at the NCI
11. PDL BioPharma Inc. Announces Exchange Offer for Its 2.875% Convertible Senior Notes Due February 15, 2015
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:2/5/2016)... , Feb. 5, 2016  Despite the recent ... slower than other industries to embrace Big Data due ... utilization. On the medical side, organizations have begun looking ... from clinical trials to adherence. --> ... benchmarking firm Best Practices, LLC, Big Data has started ...
(Date:2/5/2016)...  As people age, it is natural to be ... and tests that are linked with certain age milestones ... majority of aging individuals, hearing health is too frequently ... million American adults who report some trouble hearing, there ... health a 2016 healthy aging priority.[1] Cochlear ...
(Date:2/5/2016)... Feb. 5, 2016  Venice,s newest laser clinic, ... first of its kind in the area and ... advanced laser treatment. The physician-owned and operated laser ... Suncoast by storm with its revitalizing skin care ... multi-wavelength Astanza Trinity technology. http://photos.prnewswire.com/prnh/20160204/329957 ...
Breaking Medicine Technology:
(Date:2/5/2016)... Buffalo, NY (PRWEB) , ... February 05, 2016 ... ... regional partners and setting the stage for new clinical and scientific initiatives have ... one year after she was appointed President and CEO of the nation’s oldest ...
(Date:2/5/2016)... ... February 05, 2016 , ... ... of micro-needling services in their Napa Valley office. The technique utilizes the body’s ... Associates, Dr. Canales and Dr. Furnas, are part of only a select few ...
(Date:2/5/2016)... , ... February 05, 2016 , ... After years as ... Hospital Burn Unit, plastic and cosmetic surgeon Dr. Wayne Carman transitioned to chief of ... He successfully completed his first three-year term as chief and began a second three-year ...
(Date:2/5/2016)... ... February 05, 2016 , ... ... franchises from across the country gathered at the La Valencia Hotel in San ... PROSHRED Chicago was named the year’s most outstanding franchise, walking away with ...
(Date:2/5/2016)... ... , ... Give To Cure today announced that it is working ... To Cure’s campaign that is crowdfunding clinical trials to help find cures faster for ... a smart device. In 2015 alone, Venmo processed $7.5 billion in transactions among users. ...
Breaking Medicine News(10 mins):