Halozyme to redeem all 1.25% convertible notes due 2024 on March 17

By Mary-Katherine Stinson

Lexington, Ky., Jan. 11 – Halozyme Therapeutics Inc. will redeem all its outstanding 1.25% convertible senior notes due 2024 on March 17, according to a press release.

The redemption will be at par plus accrued interest.

Holders may convert their notes at any time prior to the close of business on the business day prior to the redemption date at a conversion price of approximately $23.79 per share, or at a conversion rate equaling 42.0331 shares of Halozyme's stock per $1,000 principal amount of the notes.

No fractional shares of common stock will be delivered. Halozyme has elected to settle any conversions by delivering a combination of cash and stock with cash in an amount of $1,000 per $1,000 principal amount of the notes.

Notes that are not converted will be redeemed on the redemption date.

Bank of New York Mellon Trust Co., NA is the trustee and paying agent.

Halozyme is a San Diego-based biopharmaceutical company.

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