Human Genome Sciences Announces Exercise of Option to Purchase Additional Notes for Total Convertible Notes Issuance of $494.5 Million
Human Genome Sciences, Inc. (Nasdaq: HGSI) today announced the exercise in full of the underwriter's option to purchase an additional $64.5 million principal amount of its Convertible Senior Notes due 2018 in connection with its public offering of the notes on November 2, 2011, for a total offering size of $494.5 million. Citigroup is acting as the underwriter, and will purchase the additional $64.5 million principal amount of notes from the company. The offering is expected to close on November 7, 2011, subject to customary closing conditions.
In connection with the exercise of the option to purchase additional notes, the company will enter into capped call transactions with certain counterparties. The company has previously entered into capped call transactions with the counterparties with respect to the shares of the company's common stock that initially underlie the $430 million of the notes.
