Sciele Pharma, Inc. Announces Offering of Contingent Convertible Senior Notes
ATLANTA--(BUSINESS WIRE)--Sciele Pharma, Inc. (NASDAQ:SCRX) today announced that it intends to offer, subject to market and other conditions, up to $250 million principal amount of Contingent Convertible Senior Notes due 2027. The Company intends to grant the underwriters a 13-day option to purchase up to an additional $37.5 million of the notes to cover over-allotments, if any. The Company intends to use the proceeds of the proposed offering to redeem all of its $150 million 1.75% Contingent Convertible Senior Subordinated Notes Due 2024, for future acquisitions or licenses of products and technologies and for capital expenditures and general corporate purposes.