Affymetrix Inc., has 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.
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.