WAKEFIELD, Mass.--(BUSINESS WIRE)--Sept. 12, 2006--PolyMedica Corporation (NASDAQ: PLMD) today announced its intention to offer, subject to market and other conditions, $150 million principal amount of Convertible Subordinated Notes due 2011 in a private offering to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”). In certain circumstances, the notes may be convertible into cash up to the principal amount. Any conversion value above the principal amount will be convertible into shares of PolyMedica common stock. The interest rate, conversion price and other terms of the notes will be determined by negotiations between PolyMedica and the initial purchasers of the notes. PolyMedica expects to grant the initial purchasers a 30-day option to purchase up to $30 million principal amount of additional notes to cover overallotments.
