Logo

Invitrogen Raises $325M in Sale of Convertible Notes

Jun 16, 2005

NEW YORK, June 16 (GenomeWeb News) - Invitrogen yesterday said that it has raised $325 million in a sale of convertible notes due 2025 that it announced earlier this week.

The company initially planned to offer $300 million of the 3.25-percent senior convertible notes. Purchasers had an option to purchase up to an additional $50 million to cover over-allotments.

Yesterday, Invitrogen said the purchasers excercised the option to purchase an additional $25 million in notes. The total offering size remains $350 million.

The company reiterated that it will use some of the net proceeds to repay around $124 million borrowed in a revolving line of credit with Bank of America, and intends to use the balance for "potential acquisitions and for general corporate purposes, including the potential repayment or redemption of other outstanding debt."

Breaking News
The Scan

Y Chromosome Study Reveals Details on Timing of Human Settlement in Americas

A Y chromosome-based analysis suggests South America may have first been settled more than 18,000 years ago, according to a new PLOS One study.

New Insights Into TP53-Driven Cancer

Researchers examine in Nature how TP53 mutations arise and spark tumor development.

Mapping Single-Cell Genomic, Transcriptomic Landscapes of Colorectal Cancer

In Genome Medicine, researchers present a map of single-cell genomic and transcriptomic landscapes of primary and metastatic colorectal cancer.

Expanded Genetic Testing Uncovers Hereditary Cancer Risk in Significant Subset of Cancer Patients

In Genome Medicine, researchers found pathogenic or likely pathogenic hereditary cancer risk variants in close to 17 percent of the 17,523 patients profiled with expanded germline genetic testing.