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Affymetrix Closes Offering of $275M in Senior Convertible Notes

NEW YORK (GenomeWeb News) – Affymetrix has closed its registered offering of $275 million of senior convertible notes.
 
The company said it plans to use the funds from the sale of the unsecured, 3.5 percent notes for working capital and for general corporate purposes, which may include funding operations, acquisitions, and capital expenditures.
 
The notes will be convertible into Affymetrix common stock at a rate of 33.191 shares per $1,000 principal amount of notes, which it said is equivalent to around $30.12 a share.
 
That value represents a 39 percent premium over the firm’s closing stock price on Nov. 13, the day the offering was announced.
 

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