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Biotech / Medical : Sepracor-Looks very promising
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To: rkrw who started this subject1/16/2004 7:24:18 AM
From: IRWIN JAMES FRANKEL  Read Replies (1) of 10280
 
Sepracor Announces Completion of Sale of an Additional $150 Million of 0% Convertible Senior Subordinated Notes
Friday January 16, 7:00 am ET

MARLBOROUGH, Mass., Jan. 16 /PRNewswire-FirstCall/ -- Sepracor Inc. (Nasdaq: SEPR - News) today announced that, in connection with the initial purchasers' exercise of their option to purchase additional 0% Convertible Senior Subordinated Notes (the "0% Notes"), it has closed its sale of $150 million principal amount of 0% Notes. Such amount consisted of $50 million principal amount of 0% Series A Convertible Senior Subordinated Notes due 2008 and $100 million principal amount of 0% Series B Convertible Senior Subordinated Notes due 2010. Sepracor did not enter into call spread transactions with respect to its common stock in connection with this sale.

The 0% Notes were offered only to qualified institutional buyers in reliance on Rule 144A of the Securities Act of 1933. The 0% Notes and the common stock issuable upon conversion of the 0% Notes have not been registered under the Securities Act or any state securities laws, and, unless registered, may not be sold in the United States except pursuant to an exemption from registration requirements of the Securities Act and applicable state securities laws.
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