Aug. 2, 2000--PerkinElmer, Inc. (NYSE:PKI - news) announced today that it has agreed to sell zero coupon senior convertible debentures. The debentures, with an aggregate initial purchase price of $400 million, are due August 2020, and are priced with a yield to maturity of 3.5%. The Company also granted the underwriters a 30-day over-allotment option as to an additional $60 million of debentures.
The debentures are currently convertible into shares of the Company's common stock at approximately $85 per share, representing a premium of 30% over yesterday's closing price.
The debentures are being offered by a prospectus supplement pursuant to the Company's effective shelf registration statement in an offering lead managed by Goldman, Sachs & Co., and co-managed by UBS Warburg, Thomas Weisel Partners LLC, and SG Cowen Securities Corporation.
The Company will use the net proceeds of the offering to repay a portion of its commercial paper borrowings, recently increased to fund its acquisition of NEN Life Sciences, a provider of state-of-the-art drug discovery products, services, reagents and technologies to the life sciences industry. |
