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Invitrogen nets $343mm through convertible debt sale

Executive Summary

Invitrogen netted $343mm (including the overallotment) through the sale of 3.25% twenty-year senior convertible notes to qualified institutional buyers. The notes covert into cash and, under certain circumstances, Invitrogen common stock at about 10.18 shares per $1k in notes (or about $98.25 per share, a 23% premium to the current market price).
Deal Industry
  • Pharmaceuticals
  • Research, Analytical Equipment & Supplies
  • Biotechnology
    • Drug Discovery Tools
      • Bioinformatics
      • Genomics-Proteomics
Deal Status
  • Final
Deal Type
  • Financing
    • Convertible Debt
    • Private Placement

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