Affymetrix greenshoe lifts 3.5% convertibles due 2038 to $316.25 million

By Devika Patel

Knoxville, Tenn., Dec. 13 - Underwriters for Affymetrix Inc.'s 3.5% unsecured senior convertible notes due Jan. 15, 2038 exercised their over-allotment option in full for $41.25 million, increasing the size of the issue to $316.25 million, the company said in a press release.

As previously reported, Affymetrix priced the convertibles on Nov. 13 at par with a conversion price of $30.12 and a conversion ratio of 33.1991. The notes had an initial conversion premium of 39%.

The notes are callable beginning Jan. 15, 2013 at par and are putable on Jan. 15 of 2013, 2018 and 2028.

JPMorgan is the bookrunner of the registered transaction.

The company plans to use the proceeds for general corporate purposes, including the potential repurchase of some or all of its outstanding 0.75% senior convertible notes due 2033.

Affymetrix is a Santa Clara, Calif.-based genetic testing equipment manufacturer.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.