Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers Tenders > Headlines for 2021 > News item |
Apellis to exchange $107.5 million convertibles due 2026 for stock
By Cady Vishniac
Detroit, Jan. 7 – Apellis Pharmaceuticals, Inc. plans to trade approximately $107.5 million of its convertible senior notes due Sept. 15, 2026 for common stock, according to a company press release.
The company plans to exchange 2,232,808 shares of its common stock in total, or 20.7792 shares per $1,000 principal amount of convertibles exchanged. Additionally, the company will exchange a number of shares of its stock per $1,000 of convertibles equal to the quotient of $544.07 divided by the average of the daily volume-weighted average prices of its stock over the 10 consecutive trading days beginning on Jan. 7.
The exchange transactions are expected to close on Jan. 25, subject to the satisfaction of customary closing conditions.
Apellis Pharmaceuticals is a Waltham, Mass.-based biopharmaceutical company.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.