Emergent BioSolutions lowers conversion price of 2.875% convertibles

By Marisa Wong

Morgantown, W.Va., Aug. 12 – Emergent BioSolutions Inc. said it adjusted the conversion rate for its 2.875% convertible senior notes due 2021 to 32.3860 shares per $1,000 principal amount.

The new conversion rate, equivalent to $30.88 per share, is effective after the market close on Aug. 12.

The rate was adjusted from 30.8821 shares per note, or $32.38 per share, following the spinoff of Aptevo Therapeutics.

Emergent is a specialty pharmaceutical company based in Rockville, Md.

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