SonoSite aims for expansion with $200m note offer:
This article was originally published in Clinica
Hand-carried ultrasound specialist SonoSite (Bothell, Washington) is set to offer $200m worth of convertible senior notes, with the aim of funding the possible acquisition of complementary businesses or product lines. The proceeds may also be used for debt repayment, capital expenditure, investment in subsidiaries, or as additional working capital. The notes will pay interest twice a year, at a rate of 3.75% each year, and, in certain circumstances, will be convertible based on an initial conversion price of around $38.2 per share. SonoSite has granted the underwriters a 30-day option to buy up to $25m aggregate principal amount of additional notes.
You may also be interested in...
FDA action awaits Sun’s manufacturing facility in Halol after it failed to adequately address GMP deviations, though India’s top-ranked drug firm appears to have effectively lowered its dependence on the site that has had a patchy compliance run.
In a surprise to the market, Dr Reddy’s and Hikma have prevailed in challenging six method-of-use patents shielding Amarin’s Vascepa in the US, opening the door for a potential at-risk launch that would likely be challenged by the originator.
Duo will study up to four novel preclinical targets identified by Sitryx that may lead to potential new drugs for autoimmune diseases, which Lilly would then commercialize.