ATLANTA--(BUSINESS WIRE)--Sciele Pharma, Inc. (NASDAQ:SCRX) today announced that it has completed the redemption of all of its New 1.75% Contingent Convertible Senior Subordinated Notes Due 2024 (the “Notes”), in accordance with the terms of the indenture dated May 3, 2006. As previously announced on May 15, 2007, the Company called the Notes for redemption. Pursuant to the terms of the Notes, upon the call for redemption, the Notes became convertible. Holders of all $150 million of the Notes exercised their right to convert their Notes in lieu of redemption. On June 14, 2007, the Company completed the conversion of the Notes by paying the holders of the Notes an aggregate of $150,700,237.66 and issuing the holders an aggregate of 839,399 shares of its common stock.
