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SEATTLE--(BUSINESS WIRE)--June 9, 2003--Corixa Corporation (Nasdaq:CRXA - News), a developer of immunotherapeutics, today announced that it intends to offer, subject to market and other conditions, approximately $75 million in aggregate principal amount of Convertible Subordinated Notes through an offering to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the "Securities Act").
The notes will have a term of five years and will be convertible at the option of the holder into shares of Corixa common stock. The interest rate, conversion price and offering price are to be determined by negotiations between Corixa and the initial purchasers of the notes. The notes will be subordinate to existing and future senior indebtedness of Corixa. Corixa will grant the initial purchasers of the notes a 13-day option to purchase up to an additional aggregate $12 million principal amount of the notes.
Corixa plans to use the net proceeds for research and development and general corporate purposes, including working capital.
This announcement is neither an offer to sell nor a solicitation to buy any of these securities and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale is unlawful. This press release is being issued pursuant to and in accordance with Rule 135c under the Securities Act.
The notes and the common stock issuable upon conversion of the notes to be offered have not been registered under the Securities Act, or any state securities laws, and unless so registered, the notes and common stock issued upon conversion of the notes may not be offered or sold in the United States except pursuant to an exemption from the registration requirements of the Securities Act and applicable state laws. |
