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Array BioPharma nets $128mm from public notes offering

Executive Summary

Cancer therapeutics firm Array BioPharma Inc. netted $128mm through the public sale of $132mm aggregate amount (including the overallotment) of its 3% senior notes due 2020. The notes convert into common at a rate of 141.86 shares for every $1k principal amount purchased, or about $7.05 per share. (Array's market average was $5.87 at the time of the sale.) The financing comes just days after Array signed on new parter Oncothyreon to co-develop and co-promote in the US Array's Phase I breast cancer candidate ARRY380.
Deal Industry
  • Biotechnology
    • Drug Discovery Tools
  • Pharmaceuticals
Deal Status
  • Final
Deal Type
  • Financing
    • Convertible Debt
    • FOPO

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