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Article: New River Pharmaceuticals Prices $125 Million Convertible Subordinated Notes; Company to Repurchase Up to $51 million in Common Stock.
- Article from:
- PR Newswire
- Article date:
- July 20, 2006
CopyrightCOPYRIGHT 2006 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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RADFORD, Va., July 19 /PRNewswire-FirstCall/ -- New River Pharmaceuticals today announced the pricing of $125,000,000 aggregate principal amount of Convertible Subordinated Notes due 2013. The notes are being sold in a private placement to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the "Securities Act"). New River has also granted the initial purchasers an option to purchase up to an additional $18,750,000 aggregate principal amount of the notes to cover over-allotments.
The Notes will pay interest semiannually at a rate of 3.5 percent per annum, and will be convertible at the holder's option, at an ...