SAN DIEGO, June 6 /PRNewswire-FirstCall/ -- Amylin Pharmaceuticals,
Inc. (Nasdaq: AMLN) today announced that the initial purchasers in its
recent private placement of $500 million of 3.00% convertible senior notes
due 2014 have elected to exercise their option to purchase an additional
$75 million in principal amount of the notes. The offering is being made
pursuant to an exemption from registration under the Securities Act of
1933, as amended. The exercise of the option will bring the gross proceeds
of the private placement to $575 million upon closing. Amylin estimates
that the net proceeds from this offering will be approximately $558.9
million after deducting initial purchasers' discounts and estimated
expenses. The closing for the additional $75 million purchase is expected
to occur concurrently with the closing for the initial $500 million sale of
notes on June 8, 2007, subject to customary closing conditions.
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
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 of 1933, as amended, and Section 21E of the Securities
Exchange Act of 1934, as amended, and may involve a number of risks and
uncertainties. For example, the completion of the closing of the option
exercise and the closing of the initial sale of notes are subject to the
satisfaction of various closing conditions.
http://www.amylin.com
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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