Quantcast

Adler closes offering $250M of 2.50% Convertible Senior Notes Due 2025

A migraine treatment focused biopharmaceutical specialist, Alder BioPharmaceuticals,  has closed on Thursday previously announced underwritten offering of $250 million aggregate principal amount of 2.50% convertible senior notes due 2025.

Alder said it has also granted the underwriters a 30-day option to buy up to an additional $37.5 million aggregate principal amount of the notes to cover over-allotments.

Furthermore, Alder’s preferred stock purchase agreement with certain institutional and other accredited investors affiliated with or managed by the buyers, Redmile Group and Alder’s right to sell to the Buyers the remaining $150 million of preferred stock under that agreement terminated upon the closing of this offering.

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.