CAMBRIDGE, Mass.--(BUSINESS WIRE)--Vertex Pharmaceuticals Incorporated (Nasdaq: VRTX) today announced that in connection with the previously announced redemption of its 5.75% Convertible Senior Subordinated Notes due 2011, holders of all of the outstanding notes converted their notes into shares of Vertex’s common stock. The aggregate outstanding principal amount of the notes prior to the conversion was approximately $59.6 million. In accordance with the terms of the indentures governing the notes, the notes were converted into common stock at a conversion rate of $14.94 per share. As a result of these conversions, Vertex issued approximately 4.0 million shares of common stock, increasing its total shares outstanding to approximately 131 million.
