Nektar Therapeutics Announces Details of Redemption of 3% Convertible Subordinated Notes due June 2010.Business Editors SAN CARLOS San Carlos (săn kär`lōs), residential city (1990 pop. 26,167), San Mateo co., W Calif.; inc. 1925. The chief manufactures are plastic products, hardware, and machine parts. , Calif.--(BUSINESS WIRE)--March 9, 2004 Nektar Therapeutics (Nasdaq:NKTR) today has called for the full redemption on March 29, 2004 of its outstanding 3% convertible subordinated notes due June 2010 issued in June and July 2003 and outstanding 3% convertible subordinated notes due June 2010 issued in October 2003. The aggregate principal amount outstanding of the notes is $133,257,000. The CUSIP numbers CUSIP Number An identification number assigned to all stocks and registered bonds. The Committee on Uniform Securities Identification Procedures (CUSIP) oversees the entire CUSIP system. Notes: This system is used in the U.S. and Canada. for these notes are 640 268 AA 6 and 640 268 AB 4 (for the notes issued in June and July 2003) and 640 268 AD 0, 640 268 AE 8 and 640 268 AC 2 (for the notes issued in October 2003). Prior to 5:00 p.m. Eastern Time, on March 25, 2004, holders of these notes may convert their notes into shares of Nektar common stock at a price of $11.35 per share, or 88.1057 shares of Nektar common stock per $1,000 principal amount of the notes, plus $75 per $1,000 principal amount of the notes. Cash will be paid in lieu of fractional shares Fractional share Stocks amounting to less than one full share, usually resulting from splits, acquisitions, exchanges, or dividend reinvestment programs. fractional share Less than one share of stock, that is, one-third or one-half a share. . On March 9, 2004, the closing price of Nektar common stock on the Nasdaq National Market was $20.80 per share. Alternatively, holders of these notes may have their notes redeemed at a redemption price Redemption price See: Call price redemption price 1. The price at which an open-end investment company will buy back its shares from the owners. In most cases, the redemption price is the net asset value per share. 2. of $1,000 per $1,000 principal amount of the notes, plus $75 per $1,000 principal amount of the notes. Any notes not converted on or before 5:00 p.m. Eastern Time, on March 25, 2004, will be automatically redeemed on March 29, 2004, after which interest will cease to accrue. A notice of redemption is being mailed by Nektar to all registered holders of the notes. Copies of the notice of redemption and additional information relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc the procedure for redemption may be obtained from J.P. Morgan Trust Company, National Association, by calling James Nagy at 415-315-7355. This announcement is neither an offer to sell nor a solicitation solicitation In criminal law, the act of asking, inducing, or directing someone to commit a crime. The person soliciting another becomes an accomplice to the crime. The term also refers to the act of obtaining bribes, as well as to the crime of a prostitute who offers sexual of an offer to buy any of these notes and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale is unlawful. This release contains forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. that reflect management's current views as to Nektar Therapeutics' business strategy, product and technology development plans and funding, collaborative arrangements, clinical trials, and other future events and operations. These forward-looking statements involve uncertainties and other risks that are detailed in Nektar Therapeutics' reports and other filings with the SEC, including its Annual Report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. for the year ended December 31, 2003. Actual results could differ materially from these forward-looking statements. |
|
||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion