Nektar calls 6¾% convertibles

New York, April 1 - Nektar Therapeutics said it will redeem in full its 6¾% convertible subordinated debentures due 2006 on April 21.

The San Carlos, Calif., company currently has $7.76 million of the securities outstanding.

Nektar will pay $1,022.50 per $1,000 principal amount for the convertibles, plus accrued interest for a total of $1,024.00.

Up to 5 p.m. ET on April 19, holders can convert the securities into stock at a price of $16.00375 per share. Nektar stock closed at $21.70 on Thursday.

In March, Nektar called its $133.3 million principal amount of 3% convertible subordinated notes due 2010. All holders exchanged their securities for stock ahead of the redemption on March 29.

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