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Biotech / Medical : ICOS Corporation -- Ignore unavailable to you. Want to Upgrade?

To: SemiBull who wrote (997)	7/16/2003 8:03:12 PM
From: SemiBull	Read Replies (1) \| Respond to of 1139

ICOS Announces Exercise of Initial Purchasers' Option for Additional $28.65 Million Wednesday July 16, 6:03 am ET BOTHELL, Wash.--(BUSINESS WIRE)--July 16, 2003--ICOS Corporation (Nasdaq:ICOS - News) announced today that the initial purchasers of $250 million of its 2% Convertible Subordinated Notes due in 2023 from its recent offering have elected to exercise their option, in part, to purchase an additional $28.65 million in principal amount of the notes. The partial exercise of the option would bring the aggregate gross proceeds from the sale and issuance of 2% Convertible Notes to $278.65 million upon closing of the option exercise. The closing for the additional $28.65 million purchase is expected to occur on Friday, July 18, 2003, subject to customary closing conditions. ICOS intends to use the net proceeds of the offering for the anticipated U.S. commercial launch of Cialis® (tadalafil), research and development activities, working capital and other general corporate purposes. The notes and the common stock issuable upon conversion of the notes have not been registered under the Securities Act of 1933, as amended, or any applicable state securities laws, and are being offered only to qualified institutional buyers in reliance on Rule 144A and to non-U.S. purchasers pursuant to Regulation S under the Securities Act. Unless so registered, the notes may not be offered or sold in the United States except pursuant to an exemption from the registration requirements of the Securities Act and any applicable state securities laws. This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state. This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements about the expected proceeds of the closing of the option exercise described above. These forward-looking statements involve risks and uncertainties that could cause ICOS' results and the timing of certain events to differ materially from those discussed in the forward-looking statements. In particular, the closing of the option exercise is subject to the satisfaction of various closing conditions. We cannot assure you that the closing will be completed. Other potential risks that could cause events to differ materially include the risks detailed in ICOS' latest Annual Report on Form 10-K and its other SEC filings. Contact: ICOS Corporation Lacy Fitzpatrick, 425-415-2207 Source: ICOS Corporation