DNAPrint, Code Amber to Develop Memory Stick to Contain Children's DNA Sequence
DNAPrint Genomics and Code Amber plan to co-develop and market a memory stick that can store a child’s DNA sequence, the companies said last week.
The memory stick would hold DNA sequence data on a flash memory device that also would contain photographs and other information about the child.
DNAPrint CEO and president Richard Gabriel said the Code Amber agreement is “one of many channels” the company uses to get parents to store their children’s DNA sequence information for identification and medical information.
Code Amber, based in Mandeville, La., offers a range of products and services to law enforcement, media, corporations, and the public dealing with Amber Alert notification, child safety, and information storage.
Code Amber refers to the Amber Alert, a notification to the general public of a confirmed child abduction. The acronym AMBER stands for “America's Missing: Broadcasting Emergency Response.” It is also the first name of Amber Hagerman, a 9-year-old who was abducted and murdered in Arlington, Texas, in 1996.
Illumina Closes $400M Note Sale After Adding $50M Over-Allotment
Illumina closed the sale of $400 million in convertible senior notes last week.
Earlier in the week, Illumina had said it would sell $325 million in notes to pay for corporate expenses, and then later raised the offering to $350 million [In Sequence 02-13-07].
The sale at closing included the exercise of an over-allotment for an additional $50 million of notes, bringing the total to $400 million.
Net proceeds were around $390.3 million after deducting estimated discounts, commissions, and expenses.
The sale will pay interest at .625 percent and will be due in 2014, at which time holders will receive cash value for the principal and common stock for any excess value.
Illumina said it plans to use $202 million from the sale to buy shares of its common stock in a private deal. Around $46.6 million was used to fund the net cost of the convertible note hedge transactions and warrant transactions that Illumina entered into with the initial purchasers of the notes.
Illumina intends to use the remainder of the net proceeds for other general corporate purposes, which may include acquisitions and additional purchases of its stock.