VALENCIA, Calif.--(BUSINESS WIRE)--MannKind Corporation (Nasdaq:MNKD) today announced that it proposes to offer, subject to market and other conditions, $100 million aggregate principal amount of senior convertible notes due 2015 (the “Notes”) to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”). MannKind also intends to grant to the initial purchasers of the Notes a 13-day option to purchase up to an additional $15 million aggregate principal amount of the Notes solely to cover over-allotments, if any. MannKind expects to use the net proceeds of the offering to fund the costs of its clinical trials programs and other research and development activities, to expand its manufacturing operations, both on-going and planned, and for general corporate purposes, including working capital.
