Third Wave Sells $14.9M Worth of Convertible Senior Notes

Dec 19, 2006

NEW YORK (GenomeWeb News) — Third Wave Technologies today said it has placed around $14.9 million worth of convertible senior notes with an institutional investor.

The company said it plans to use the cash for general corporate purposes.

The 6-percent notes, which are convertible into roughly 2.5 million shares, will be due in 2011 and are priced at an initial rate of $6 apiece.

Third Wave shares were down 8.2 percent to $4.56 in early-afternoon trading today.

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