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Biotech / Medical : ICOS Corporation

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To: Icebrg who wrote (992)	6/16/2003 8:31:47 AM
From: Icebrg	Read Replies (3) of 1139

ICOS Announces Proposed Private Offering of Convertible Subordinated Notes Monday June 16, 8:26 am ET BOTHELL, Wash.--(BUSINESS WIRE)--June 16, 2003--ICOS Corporation (Nasdaq:ICOS - News) announced today that it intends to offer, subject to market and other conditions, $250 million aggregate principal amount of convertible subordinated notes through an offering to qualified institutional buyers pursuant to Rule 144A and to non-U.S. purchasers pursuant to Regulation S, under the Securities Act of 1933, as amended. The notes are expected to have a term of 20 years and will be convertible at the option of the holder into ICOS Corporation common stock, at a price to be determined by negotiations between ICOS and the initial purchasers of the notes. The terms of the offering are expected to include an option exercisable by the initial purchasers to purchase up to an additional $50 million aggregate principal amount of notes. ICOS intends to use the net proceeds of the offering for the anticipated U.S. commercial launch of Cialis, research and development activities, working capital and other general corporate purposes.

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