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PDL BioPharma nets $291mm through notes offering

Executive Summary

PDL BioPharma Inc. (manages antibody humanization patents; realizes revenue through royalties) netted $291mm through the public sale of $300mm aggregate amount (including the overallotment) of its 4% senior notes due February 1, 2018. Each $1k of notes converts into 109.1048 common shares, equal to a conversion rate of $9.17 per share. (PDL's stock averaged $8.95 at the time of the sale.)
Deal Industry
  • Biotechnology
    • Large Molecule
      • Antibodies
  • Pharmaceuticals
Deal Status
  • Final
Deal Type
  • Financing
    • FOPO
    • Convertible Debt

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