Biotechnology Value Fund, L.P. Message Board

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Biotech / Medical : Biotechnology Value Fund, L.P.

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To: Icebrg who wrote (3519)	7/17/2003 7:26:37 AM
From: Icebrg	Read Replies (1) of 4974

Medarex Announces Proposed Convertible Senior Note Offering Thursday July 17, 7:12 am ET [The best thing would of course be to use all the proceeds to retire debt maturing in 2006] PRINCETON, N.J., July 17 /PRNewswire-FirstCall/ Medarex, Inc. (Nasdaq: MEDX - News) announced today that it intends to offer $100 million of Convertible Senior Notes expected to be due in 2010 in a private offering to qualified institutional buyers under Rule 144A of the Securities Act of 1933, as amended. These Notes will be convertible into Medarex Common Stock at a price to be determined. The net proceeds from the offering will be used for general corporate purposes. We may also use a portion of the net proceeds to repay a portion of our outstanding indebtedness and to acquire products or companies that further our strategic goals, although we currently have not entered into any agreement relating to any such transactions

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