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Affymetrix Redeeming Senior Convertible Notes

NEW YORK (GenomeWeb News) – Affymetrix said after the close of the market on Monday that it has given notice of its intention to redeem all of its outstanding 3.50 percent senior convertible notes due 2038.

Affy will redeem the notes on Jan. 15, 2013. As of Nov. 15, there was about $3.9 million aggregate principal amount of the convertible notes outstanding. The notes will be redeemed at a redemption price of 100 percent of the principal amount of the convertible notes redeemed, plus accrued and unpaid interest up to but not including the redemption date.

The notes can be converted any time before the close of the business day on Jan. 14, 2013 at a rate of 33.1991 shares of common stock per $1,000 principal amount, Affy said.

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