Alexion issues stock for $36.26 million total 1.375% convertibles

By Jennifer Chiou

New York, May 29 - Alexion Pharmaceuticals, Inc. said it issued stock in two transactions on Wednesday and Friday to redeem a combined $36.26 million of its 1.375% convertible senior notes due 2012.

Among the repurchases, Alexion issued 212,829 of its shares on Friday in exchange for $3.29 million of its 1.375% convertibles due 2012 beneficially owned by CCS, LLC and the Wolverine Convertible Arbitrage Fund Trading Ltd., according to an 8-K filing with the Securities and Exchange Commission.

On Wednesday, the company said it issued 2,131,511 shares in exchange for $32.97 million of the convertibles beneficially owned by Xaraf Capital Master Fund LP and by Sunrise Partners LP, LLC.

After the exchanges, the outstanding principal balance of the notes is $9.92 million.

The company said it may offer additional exchanges as opportunities arise.

Alexion is a Cheshire, Conn.-based biotechnology company.

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