Business
HALOZYME THERAPEUTICS, INC. ANNOUNCES REDEMPTION OF 1.25% CONVERTIBLE SENIOR NOTES DUE 2024
SAN DIEGO, Jan. 11, 2023 /PRNewswire/ -- Halozyme Therapeutics, Inc. (NASDAQ: HALO) ("Halozyme") today announced that it has elected to redeem on March 17,
About this update from Halozyme Therapeutics, Inc.
[{"type":"text","content":"SAN DIEGO, Jan. 11, 2023 /PRNewswire/ -- Halozyme Therapeutics, Inc. (NASDAQ: HALO) (\"Halozyme\") today announced that it has elected to redeem on March 17, 2023 (the \"Redemption Date\") all of its outstanding 1.25% convertible senior notes due 2024 (the \"Notes\") pursuant to Section 4.03 of the Indenture, dated as of November 18, 2019 (the \"Indenture\"), between Halozyme and The Bank of New York Mellon Trust Company, N.A., as trustee (in such capacity, the \"Trustee\"). Halozyme has delivered a notice of redemption to the Trustee.\nHolders of the Notes may convert their Notes at any time prior the close of business on the Business Day prior to the Redemption Date, at a conversion rate equal to 42.0331 shares of Halozyme's common stock per $1,000 principal amount of the Notes, which is equivalent to a Conversion Price of approximately $23.79 per share. In accordance with Section 5.03(A) of the Indenture, Halozyme has elected to settle any conversions by delivering a combination of cash and stock with cash in an amount of $1,000 per $1,000 principal amount of the Notes, and the remainder in Halozyme's common stock, together with cash, if applicable, in lieu of delivering any fractional shares of common stock.\nAny Notes which have not been converted will be redeemed on the Redemption Date at a price equal to 100% of the principal amount of the Notes to be redeemed, plus accrued and unpaid interest to, but excluding, the Redemption Date.\nA copy of the notice of redemption may be obtained from The Bank of New York Mellon Trust Company, N.A., as trustee and paying agent.\nAbout HalozymeHalozyme is a biopharmaceutical company bringing disruptive solutions to significantly improve patient experiences and outcomes for emerging and established therapies. As the innovators of the ENHANZE® technology with the proprietary enzyme rHuPH20, Halozyme's commercially-validated solution is used to facilitate the delivery of injected drugs and fluids in order to reduce the treatment burden to patients. Having touched more than 600,000 patient lives in post-marketing use in five commercialized products across more than 100 global markets, Halozyme has licensed its ENHANZE® technology to leading pharmaceutical and biotechnology companies including Roche, Takeda, Pfizer, AbbVie, Eli Lilly, Bristol-Myers Squibb, Alexion, argenx, Horizon Therapeut...