Celgene Proposes $300 Million Notes Offer
The notes would be convertible into common stock at a price to be determined.
Biopharmaceutical company
Celgene
(CELG) - Get Report
is proposing to offer $300 million of convertible notes to qualified institutional buyers.
The notes will be convertible into Celgene common stock at a price to be determined.
Celgene said in a press release after the close Wednesday that the notes will be due in 2008.
Shares of Celgene, which is based in Warren, N.J., ended regular
Nasdaq
trading at $32.31, down $1.16, or 3.5%. In Instinet trading after the closing bell, Celgene slipped $1.30, or 4%.
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