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Biotech / Medical : InterMune (nasdaq)ITMN

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To: tuck who wrote (402)	2/11/2004 10:07:03 AM
From: tuck	of 508

>>BRISBANE, Calif., Feb. 11 /PRNewswire-FirstCall/ -- InterMune, Inc. (Nasdaq: ITMN - News) today announced that it has entered into an agreement for the sale of $150 million of its 0.25% Convertible Senior Notes Due 2011 ($170 million if the option to purchase an additional $20 million principal amount of the Notes is exercised in full) through a Rule 144A private placement offering to qualified institutional buyers. The Notes will be convertible into InterMune common stock at a conversion rate of 46.2283 shares per $1,000 principal amount of notes (reflecting a premium of approximately 17.5% relative to the NASDAQ closing price for InterMune common stock of $18.41 on February 10, 2004). The placement is expected to close on February 17, 2004, subject to certain closing conditions. As previously announced, InterMune intends to use the net proceeds of the offering to purchase or redeem the Company's outstanding 5.75% Convertible Subordinated Notes due 2006. To the extent that it does not purchase or redeem all of these outstanding notes, InterMune intends to use the net proceeds of the offering for working capital and other general corporate purposes.<< snip Cheers, Tuck

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