Skip to main content
Premium Trial:

Request an Annual Quote

Affymetrix Completes Repurchase of $92M of Senior Notes as Part of Settlement

NEW YORK (GenomeWeb News) – Affymetrix said in a regulatory filing that it has repurchased almost $92 million of senior convertible notes related to a settlement of a lawsuit associated with its proposed purchase of eBioscience.

In a document filed with the US Securities and Exchange Commission Tuesday, the company said that as of the expiration date of its offer to repurchase the notes at midnight on March 2, $91.6 million in aggregate principal of the notes, or 96 percent of the outstanding notes, had been validly tendered and not withdrawn.

The company settled the offer on March 5 and paid its holders aggregate consideration of $92.1 million, including the accrued interest.

Affy had commenced a tender offer in early February to repurchase the entire $95.5 million in aggregate principal amount of its 3.50 percent senior convertible notes due 2038 as part of settlement with Tang Capital, which had sued Affy following its announcement to buy eBioscience for $330 million.

Tang claimed the acquisition would constitute a fundamental change under the indenture that governs the senior convertible notes that it held.

Affy disclosed in its Form 10-K last week that it has released eBioscience from certain obligations under the terms of its merger deal. eBioscience is considering alternatives to an acquisition by Affy, it added.

The Scan

Steps for Quick Review

The US Food and Drug Administration is preparing for the quick review of drugs and vaccines for the Omicron variant, according to the Wall Street Journal.

Moving Away From Using Term 'Race'

A new analysis finds that geneticists are using the term "race" in their papers less than in years past, as Science reports.

Point of the Program

The Guardian writes that some scientists have called the design of a UK newborn sequencing program into question.

Science Papers Present Multi-Omic Analysis of Lung Cells, Regulation of Cardiomyocyte Proliferation

In Science this week: a multi-omic analysis of lung cells focuses on RIT1-regulated pathways, and more.