Biovail Completes Concurrent Offerings.Business Editors and Health/Medical Writers TORONTO--(BW HealthWire)--March 17, 2000 Biovail Corporation (NYSE NYSE See: New York Stock Exchange :BVF BVF Biovail Corporation (stock symbol) BVF Berufsverband der Frauenärzte eV (Muenchen, Germany) BVF Bearing Versus Frequency ) (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :BVF) announced today the effectiveness of registration statements in the United States and Ontario, Canada with respect to its concurrent offerings for 2 million of its common shares and U.S.$300 million aggregate principal amount of its Convertible Subordinated Preferred Equivalent Debentures due 2025. The initial public offering price of the common shares is U.S.$50 9/16 per share. The interest rate on the Convertible Subordinated Preferred Equivalent Debentures is 6 3/4%. and the conversion price is U.S.$60.675 The Convertible Subordinated Preferred Equivalent Debentures are being offered at 100% of principal amount in denominations of U.S.$50. The managing underwriters on the common share offering are Donaldson, Lufkin & Jenrette, Merrill Lynch & Co., Morgan Stanley Dean Witter, Banc of America Securities LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control , Lazard Freres & Co. LLC, Punk, Ziegel & Company, Scotia Capital Inc. and DLJdirect Inc. The managing underwriters on the Convertible Subordinated preferred Equivalent Debenture offering are Donaldson, Lufkin & Jenrette, Merrill Lynch & Co. and Morgan Stanley Dean Witter. The common shares and Convertible Subordinated Preferred Equivalent Debentures are being offered by the Company. Copies of the prospectuses related to these offerings can be obtained from Donaldson, Lufkin & Jenrette, 277 Park Avenue, New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , New York 10172, (212) 892-3000. Biovail Corporation is an international full-service pharmaceutical company, engaged in the formulation, clinical testing, registration and manufacture of drug products utilizing advanced drug delivery technologies. "Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. " statement under the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. To the extent any statements made in this release contain information that is not historical, these statements are essentially forward looking and are subject to risks and uncertainties, including the difficulty of predicting FDA FDA abbr. Food and Drug Administration FDA, n.pr See Food and Drug Administration. FDA, n.pr the abbreviation for the Food and Drug Administration. approvals, acceptance and demand for new pharmaceutical products, the impact of competitive products and pricing, new product development and launch, reliance on key strategic alliances, availability of raw materials, the regulatory environment, fluctuations in operating results and other risks detailed from time to time in the company's filings with the Securities and Exchange Commission. |
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