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Biotech / Medical : AFFYMETRIX (AFFX)

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From: tnsaf	11/13/2007 12:27:49 PM
	of 1728

Affymetrix to Offer $250M of Notes Severe lack of details Tuesday November 13, 8:20 am ET Affymetrix Plans $250 Million Offering of Senior Convertible Notes Due 2038 SANTA CLARA, Calif. (AP) -- Affymetrix Inc., which makes products to analyze genetic data, Tuesday said it plans a $250 million offering of unsecured senior convertible notes due 2038. The company also expects to grant the underwriter an overallotment option to buy up to $37.5 million aggregate principal amount of additional notes under the same terms and conditions. The company intends to use the net proceeds from the offering for working capital and general corporate purposes, which may include funding its operations, capital expenditures and potential acquisitions of businesses or products. Affymetrix also plans to use the proceeds for repurchases or redemption of all or a portion of its 0.75 percent senior convertible notes due 2033. JPMorgan Securities Inc. is acting as the sole book-running manager of the offering.

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