Amarin Corporation (AMRN) Down on Transaction

Amarin Corporation plc AMRN shares subsided 3.9% to $2.96. The company disclosed that its subsidiary has announced a mandatorily exchange of all of its 3.5% May 2014 Exchangeable Senior Notes due 2032 into American Depositary Shares (ADSs) of Amarin. Each ADS represents one ordinary share of Amarin, meaning the company will issue 384.6154 ADSs for each $1,000 principal amount of 2014 Notes. Share volume was –1.1 million, compared to an all-day average of 2.7 million