SUNNYVALE, Calif., July 26 /PRNewswire-FirstCall/ --
Scios Inc. (Nasdaq: SCIO) today announced it intends to offer, subject to
market and other conditions, $125 million in principle amount of convertible
subordinated notes plus up to an additional $18.75 million in principal amount
to cover over-allotments. The notes will be convertible into shares of our
common stock at any time from issuance through maturity at a price to be
determined.
The Company intends to use a portion of the net proceeds to repay
outstanding indebtedness and the remaining amount for general corporate
purposes.
The notes and the common stock issuable upon conversion have not been
registered under the Securities Act of 1933, as amended, or applicable state
securities laws, and will be offered only to qualified institutional buyers in
reliance on Rule 144A under the Securities Act of 1933, as amended. Unless so
registered, the notes and common stock issuable upon conversion of the notes
may not be offered or sold in the United States except pursuant to an
exemption from the registration requirements of the Securities Act and
applicable state securities laws.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy these securities, nor shall there be any sale
of these securities in any state in which such offer, solicitation or sale
would be unlawful prior to registration or qualification under the securities
laws of any such state.
Scios Inc.
Scios is a biopharmaceutical company developing novel treatments for
cardiovascular and inflammatory disease. The Company's disease-based
technology platform integrates expertise in protein biology with computational
and medicinal chemistry to identify novel targets and rationally design small
molecule compounds for large markets with unmet medical needs.
Forward-Looking Safe Harbor Statement
This news release contains forward-looking statements within the meaning
of Section 27A of the Securities Act of 1933 and Section 21E of the Securities
Exchange Act of 1934. We generally identify such forward-looking statements
using words like "believe," "intend," "expect," "may," "should," "plan,"
"project," "contemplate," "anticipate" or similar statements. Statements that
are not historical facts are forward-looking statements based on current
assumptions that involve risks and uncertainties. These risks and
uncertainties may include the sales penetration and success of Natrecor, the
success of clinical trials of Natrecor our pipeline products, including
SCIO-469 and inhibitors to TGF-beta and our ability to partner the development
and commercialization of our pipeline products and Natrecor (outside the U.S.
and Europe) with third parties on favorable terms, or at all, as well as the
other risks detailed from time to time in the reports filed by Scios with the
SEC, including the Company's quarterly reports and annual report on Form 10-K.
Actual results, performance or achievements of Scios may differ significantly
from those described in these forward-looking statements. Scios disclaims any
intention or obligation to update or revise any forward-looking statements,
whether as a result of new information, future events or otherwise.
SOURCE Scios, Inc.
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Related links:
http://www.sciosinc.com
CONTACT:
media and investors, Suzanne Beveridge of
Scios Inc., +1-408-616 2947, or +1-415-616 8328; or investors,
Fern Lazar, or Sara Moorin of Lazar Partners Ltd.,
+1-212-867-1762, for Scios, Inc.
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