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Affymetrix to Offer $250M of Senior Convertible Notes

NEW YORK (GenomeWeb News) – Affymetrix today said that it has filed a shelf registration with the US Securities and Exchange Commission to offer $250 million of unsecured senior convertible notes due 2038.
 
Affy said that it expects to grant the offering’s underwriter an over-allotment option to purchase up to $37.5 million aggregate principal amount of additional notes.
 
The firm intends to use proceeds for working capital and general corporate purposes, which could include capital expenditures and potential acquisitions of business, products, or technologies. Affy also said that it may use the funds to repurchase or redeem all or a portion of its .75 percent senior convertible notes due 2033.
 
JP Morgan Securities is the sole book-running manager of the offering.

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