said Thursday that it priced $225 million aggregate principal amount of convertible senior notes due Nov. 15, 2011.
The Cambridge, Mass.-based company said it has granted the underwriters an option to purchase up to an additional $25 million aggregate principal amount of notes, solely to cover over-allotments.
The notes, bearing an interest rate of 2.25% per year, will be convertible based on an initial conversion rate of 64.6465 shares of common stock a $1,000 principal amount of the notes, which is equivalent to an initial conversion price of about $15.47 a share of common stock.
The Cambridge, Mass.-based company expects to use the proceeds mainly for license arrangements and acquisitions.
The offering is expected to close on Nov. 15, the company said.
Morgan Stanley and J.P. Morgan Securities are acting as joint book-running managers for the offering.
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