Isolagen plans exchange for 3.5% convertibles, to issue $30 million new 3.5% notes

By Jennifer Chiou

New York, July 11 - Isolagen Inc. will issue new 3.5% convertible senior notes due 2024 in exchange for all $90 million of its 3.5% convertible subordinated notes due 2024, according to an S-4 filing with the Securities and Exchange Commission.

The company also registered to sell up to $31.665 million of additional new 3.5% senior notes for $30 million.

Holders who tender their notes for exchange will receive an equal amount of new notes.

Isolagen additionally registered to sell up to $24,300,001 of common stock.

The company said that the exchange and new money offerings will reform its capital structure in order to better execute its business strategy.

Thomas Weisel Partners LLC is the dealer manager (888 627-6373). Georgeson Inc. is the information agent (888 549-6633).

The Exton, Pa.-based company specializes in autologous cellular therapies for soft and hard tissue regeneration.

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