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Life Technologies to Redeem Convertible Senior Notes

By a GenomeWeb staff reporter

NEW YORK (GenomeWeb News) – Life Technologies said after the close of the market Wednesday that it will redeem all outstanding 3.25 percent convertible senior notes due 2025 on June 15.

The firm said that as of May 6, there was $350 million in aggregate principal amount of the notes outstanding. The notes are convertible prior to June 14, 5:00 p.m. EDT, at a rate of 20.3560 shares of common stock per $1,000 principal amount of the notes surrendered.

The surrendered notes will be settled in cash and stock in accordance with provisions of the indenture, the firm said.

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