Affymetrix Announces Proposed $105 Million Offering of Convertible Senior Notes Due 2019
19 June 2012 - 6:21AM
Business Wire
Affymetrix Inc., (NASDAQ:AFFX) today announced that it intends
to offer, subject to market and other considerations, $105 million
aggregate principal amount of unsecured Convertible Senior Notes
due 2019. The offering is being made pursuant to an effective shelf
registration statement on Form S-3 previously filed with the
Securities and Exchange Commission (the “SEC”) and a prospectus
supplement filed with the SEC today. Affymetrix also expects to
grant the underwriters an option to purchase up to $10 million
aggregate principal amount of additional notes on the same terms
and conditions, solely to cover over-allotments, if any.
Affymetrix intends to use the net proceeds from the offering to
fund a portion of the purchase price for its pending acquisition of
eBioscience Holding Company, Inc. In the event that the acquisition
of eBioscience is not consummated and Affymetrix does not elect to
redeem the notes, Affymetrix management will retain broad
discretion over use of the net proceeds.
Citigroup and Morgan Stanley are acting as joint book-running
managers of the offering.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy any 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. The
offering of securities may be made only by means of a base
prospectus and the related prospectus supplement. Copies of these
offering documents can be obtained by contacting Citigroup,
Attention: Prospectus Department, Brooklyn Army Terminal, 140 58th
Street, 8th Floor, Brooklyn, NY 11220, telephone: 1-877-858-5407 or
Morgan Stanley, 180 Varick Street (second floor), New York, NY
10014, telephone: 1-866-718-1649 or by emailing
prospectus@morganstanley.com.
Forward-looking statements
All statements in this press release that are not historical are
"forward-looking statements" within the meaning of Section 21E of
the Securities Exchange Act as amended, including statements
regarding Affymetrix’s “expectations,” “beliefs,” “hopes,”
“intentions,” “strategies” or the like. Such statements are subject
to risks and uncertainties that could cause actual results to
differ materially, including but not limited to whether or not
Affymetrix will offer the convertible notes or complete the
offering, the anticipated terms of the offering, the anticipated
use of proceeds of the offering and risks relating to Affymetrix’s
ability to consummate the acquisition of eBioscience. For a
detailed discussion of these and other cautionary statements and
risk factors, please refer to Affymetrix’s Form 10-K for the year
ended December 31, 2011, Affymetrix’s Form 10-Q for the quarter
ended March 31, 2012 and other SEC reports. Affymetrix expressly
disclaims any obligation or undertaking to release publicly any
updates or revisions to any forward-looking statements contained
herein to reflect any change in Affymetrix’s expectations or any
change in events, conditions, or circumstances on which any such
statements are based.
PLEASE NOTE:
Affymetrix, the Affymetrix logo and all other trademarks are the
property of Affymetrix, Inc.
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