SAN DIEGO, June 4 /PRNewswire-FirstCall/ -- Amylin Pharmaceuticals,
Inc. (Nasdaq: AMLN) announced today that it intends to offer $400 million
of convertible senior notes for sale in a private placement. The offering
will be made pursuant to an exemption from registration under the
Securities Act of 1933, as amended (the "Securities Act"). The convertible
senior notes will be convertible into shares of Amylin common stock,
subject to Amylin's right to irrevocably elect to settle conversions in
cash up to the principal amount and shares for any conversion value in
excess thereof. It is expected that the convertible senior notes will be
due in 2014. Amylin intends to grant the initial purchasers of the notes an
option to purchase up to an additional $50 million aggregate principal
amount of notes.
Amylin intends to use the net proceeds of this offering to continue to
commercialize its approved products, fund the development of its late stage
product candidates and other pipeline candidates, establish additional
manufacturing sources, including its Ohio manufacturing facility, fund
research and development activities, fund other operating expenses and
potential acquisitions of or investments in complementary technologies or
businesses and for other general corporate purposes.
Amylin Pharmaceuticals is a biopharmaceutical company committed to
improving lives through the discovery, development and commercialization of
innovative medicines.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy securities. The offering is being made
within the United States only to qualified institutional buyers. The
convertible senior notes being offered and the common stock issuable upon
conversion of the convertible senior notes have not been registered under
the United States or state securities laws and may not be offered or sold
in the United States absent registration or an applicable exemption from
the registration requirements.
The statements in this press release that are not historical facts are
forward-looking statements within the meaning of Section 27A of the
Securities Act and Section 21E of the Securities Exchange Act of 1934, as
amended, and may involve a number of risks and uncertainties. For example,
Amylin may not be successful in issuing the convertible senior notes due to
market conditions or otherwise.
SOURCE Amylin Pharmaceuticals, Inc.
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Related links:
http://www.amylin.com
CONTACT:
Mark Foletta, Senior Vice President, Finance
and Chief Financial Officer of Amylin Pharmaceuticals, Inc.,
+1-858-552-2200
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