Affymetrix Announces Redemption of 3.50% Senior Convertible Notes
04 December 2012 - 8:00AM
Business Wire
Affymetrix, Inc., (NASDAQ: AFFX) today has given notice of its
intention to redeem all of the outstanding 3.50% Senior Convertible
Notes due 2038 (CUSIP 00826TAG3) (the “Convertible Notes”) on
January 15, 2013. As of November 15, 2012, there was approximately
$3.9 million aggregate principal amount of the Convertible Notes
outstanding. The Convertible Notes will be redeemed at a redemption
price of 100% of the principal amount of the Convertible Notes
redeemed, plus accrued and unpaid interest up to, but excluding,
the redemption date.
The Convertible Notes are convertible at any time prior to the
close of business on January 14, 2013 at a rate of 33.1991 shares
of common stock per $1,000 principal amount. The Convertible Notes
surrendered for conversion will be settled in cash and stock in
accordance with the provisions of the indenture.
The Bank of New York Mellon Trust Company, N.A., the trustee for
the Convertible Notes, is distributing a Notice of Redemption to
all registered holders of the Convertible Notes on December 3,
2012. Copies of such Notice of Redemption and additional
information relating to the procedure for redemption and/or
conversion of the Convertible Notes may be obtained from The Bank
of New York Mellon Trust Company, N.A. by calling
1-800-254-2826.
This announcement does not constitute an offer to buy or sell or
the solicitation of an offer to sell or buy securities in any
jurisdiction.
About Affymetrix
Affymetrix technology is used by the world's top pharmaceutical,
diagnostic, and biotechnology companies, as well as leading
academic, government, and nonprofit research institutes. More than
2,200 systems have been shipped around the world and almost 26,000
peer-reviewed papers have been published using the technology.
Affymetrix is headquartered in Santa Clara, California, and has
manufacturing facilities in Cleveland, Ohio, and Singapore.
eBioscience is headquartered in San Diego, California and has
manufacturing facilities in San Diego and Vienna, Austria.
Including eBioscience, the Company has about 1,200 employees
worldwide and maintains sales and distribution operations across
Europe, Asia and Latin America.
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 for Affymetrix from those projected, including,
but not limited to: Affymetrix's ability to timely and successfully
integrate and realize the anticipated strategic benefits and costs
savings or other synergies of the acquisition of eBioscience in a
cost-effective manner while minimizing the disruption to its
business; risks that eBioscience’s future performance may not be
consistent with its historical performance; risks relating to
Affymetrix's ability to make scheduled payments of the principal
of, to pay interest on or to refinance its indebtedness; risks
relating to Affymetrix's ability to successfully develop and
commercialize new products, including its ability to successfully
develop and commercialize novel molecular solutions based on
eBioscience’s portfolio of reagents; risks relating to past and
future acquisitions, including the ability of Affymetrix to
successfully integrate such acquisitions into its existing
business; risks of Affymetrix's ability to achieve and sustain
higher levels of revenue, higher gross margins and reduced
operating expenses; risks relating to Affymetrix’s ability to
generate cash in the second half of 2012 after interest and
principal payments; uncertainties relating to technological
approaches; risks associated with manufacturing and product
development; personnel retention; uncertainties relating to cost
and pricing of Affymetrix products; dependence on collaborative
partners; uncertainties relating to sole-source suppliers;
uncertainties relating to FDA and other regulatory approvals;
competition; risks relating to intellectual property of others and
the uncertainties of patent protection and litigation. These and
other risk factors are discussed in Affymetrix's Annual Report on
Form 10-K for the year ended December 31, 2011, 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 with regard thereto or any change in
events, conditions or circumstances on which any such statements
are based.
PLEASE NOTE:
Affymetrix, the Affymetrix logo, GeneChip, and all other
trademarks are the property of Affymetrix, Inc.
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