Dendreon Taps Financing Sooner Than Expected
by Jon C. Ogg
24/7 Wall St.
Shares of Dendreon (DNDN) are trading down some 7% pre-market after the company announced that it was going to offer $75 million in convertible senior subordinated notes that are due in 2014. The offering is being made under Rule 144A to qualified institutional buyers, so the securities will not be required to be registered until a reseale period.
The terms are still T.B.A. and are being negotiated, plus their is a $25 million overallotment option.
The Company intends to use the net proceeds of this offering to finance its activities relating to the potential commercialization of Provenge®, expand its manufacturing facilities for the commercial production of PROVENGE...
Continue article at 247WallSt.com
RELATED READING:
- Analysts Continue to Dump on Dendreon
- Dendreon Catches a Break From The FDA
- Dendreon Volume and Volatility Compress Ahead of ASCO
_____________________
24/7 Wall St.
Shares of Dendreon (DNDN) are trading down some 7% pre-market after the company announced that it was going to offer $75 million in convertible senior subordinated notes that are due in 2014. The offering is being made under Rule 144A to qualified institutional buyers, so the securities will not be required to be registered until a reseale period. The terms are still T.B.A. and are being negotiated, plus their is a $25 million overallotment option.
The Company intends to use the net proceeds of this offering to finance its activities relating to the potential commercialization of Provenge®, expand its manufacturing facilities for the commercial production of PROVENGE...
Continue article at 247WallSt.com
RELATED READING:
- Analysts Continue to Dump on Dendreon
- Dendreon Catches a Break From The FDA
- Dendreon Volume and Volatility Compress Ahead of ASCO
_____________________
posted by Nico at
9:40 PM
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