InterMune, Inc. ITMN
today announced that it plans to offer, subject to market and other
conditions, $85.0 million aggregate principal amount of convertible senior
notes due 2017 and 12,500,000 shares of its common stock in concurrent
underwritten public offerings. InterMune expects to grant the underwriters
30-day options to purchase up to an additional $12.75 million aggregate
principal amount of convertible senior notes and up to an additional 1,875,000
shares of common stock in connection with the offerings.
(Logo: http://photos.prnewswire.com/prnh/20120827/SF62570LOGO)
InterMune intends to use the net proceeds from both offerings to repay at
maturity or earlier repurchase InterMune's outstanding 5.00% convertible
senior notes due 2015, as well as to fund the commercialization of Esbriet®
(pirfenidone), to fund InterMune's ASCEND trial and for general corporate
purposes, which may include funding research and development, and working
capital. InterMune may also use a portion of the net proceeds for capital
expenditures or for acquisitions or investments in complementary businesses,
products and technologies.
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