Affymetrix, Inc. Announces Pricing of $100 Million 0.75% Senior Convertible Notes
December 10 2003 - 6:00AM
PR Newswire (US)
Affymetrix, Inc. Announces Pricing of $100 Million 0.75% Senior
Convertible Notes SANTA CLARA, Calif., Dec. 10
/PRNewswire-FirstCall/ -- Affymetrix, Inc. announced today the
pricing of its offering of $100 million principal amount of 0.75%
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
conversion rate of 32.2431 shares per $1,000 principal amount of
notes, representing a conversion price of $31.01 per share of
common stock. The initial conversion price represents a premium of
approximately 28% relative to the reported last sale price of
Affymetrix common stock on Nasdaq of $24.23 per share on December
9, 2003. 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 has granted the initial purchasers an option to
purchase an additional $20 million principal amount of notes.
Affymetrix also announced today that it is calling for redemption
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: media, Wes Conard, Associate Director,
Public Relations, +1-408-731-5791, or investors, Doug Farrell, Vice
President, Investor Relations, +1-408-731-5285, both of Affymetrix
Web site: http://www.affymetrix.com/
Copyright
Affymetrix (NASDAQ:AFFX)
Historical Stock Chart
From Jun 2024 to Jul 2024
Affymetrix (NASDAQ:AFFX)
Historical Stock Chart
From Jul 2023 to Jul 2024