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Biotech / Medical : MEDX ... anybody following? -- Ignore unavailable to you. Want to Upgrade?

To: Icebrg who wrote (808)	4/26/2004 8:16:52 AM
From: Icebrg	Read Replies (1) \| Respond to of 2240

Medarex Announces Proposed Convertible Senior Note Offering to Refinance 4.50% Convertible Subordinated Notes Due 2006 Monday April 26, 7:31 am ET PRINCETON, N.J., April 26 /PRNewswire-FirstCall/ -- Medarex, Inc. (Nasdaq: MEDX - News) announced today that it intends to offer $125 million of Convertible Senior Notes ("Notes") expected to be due in 2011 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. Medarex intends to use the net proceeds from the offering to purchase or redeem all or a portion of Medarex's outstanding 4.50% Convertible Subordinated Notes due 2006 and any excess for general corporate purposes.