Affymetrix, Inc. Announces Intention to Offer $100 Million Senior Convertible Notes
December 08 2003 - 7:16PM
PR Newswire (US)
Affymetrix, Inc. Announces Intention to Offer $100 Million Senior
Convertible Notes SANTA CLARA, Calif., Dec. 8
/PRNewswire-FirstCall/ -- Affymetrix, Inc. announced today its
intention to commence an offering of $100 million principal amount
of Senior Convertible Notes Due 2033 to qualified institutional
buyers pursuant to Rule 144A under the Securities Act of 1933, as
amended. The notes will be convertible into Affymetrix common stock
at a price to be determined. The notes will be redeemable at the
company's option beginning December 15, 2008 at a redemption price
of 100% of their principal amount. Holders of the notes will have
the right to require the company to repurchase some or all of their
notes on December 15, 2008, December 15, 2013, December 15, 2018,
December 15, 2023 and December 15, 2028 and upon a fundamental
change of Affymetrix at a repurchase price of 100% of their
principal amount. The company expects to grant the initial
purchasers an option to purchase up to an additional $15 million
principal amount of notes. Affymetrix plans to announce on December
9, 2003 the redemption of all of its outstanding 5% convertible
subordinated notes due 2006, of which $102 million in aggregate
principal amount are currently outstanding. Subject to the
completion of the offering of the Senior Convertible Notes, the
Company also plans to redeem all of its outstanding 4.75%
convertible subordinated notes due 2007, of which $165.5 million in
aggregate principal amount are currently outstanding, and will fund
the redemption with the proceeds from the sale of the notes and
available cash. The notes and common stock issuable upon conversion
of the notes have not been registered under the Securities Act of
1933, as amended, or applicable state securities laws, and unless
so registered, may not be offered or sold in the United States
except pursuant to an applicable exemption from the registration
requirements of the Securities Act of 1933, as amended, and
applicable state securities laws. This press release is neither an
offer to sell nor a solicitation of an offer to buy any of these
securities and shall not constitute an offer, solicitation or sale
in any jurisdiction in which such offer, solicitation or sale is
unlawful. DATASOURCE: Affymetrix, Inc. CONTACT: Wes Conard,
Associate Director, Public Relations, +1-408-731-5791, or , or Doug
Farrell, Vice President, Investor Relations, +1-408-731-5285, or ,
both of Affymetrix, Inc. Web site: http://www.affymetrix.com/
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