Adler closes offering $250M of 2.50% Convertible Senior Notes Due 2025
February 2, 2018A migraine treatment focused biopharmaceutical specialist, Alder BioPharmaceuticals, has closed on Thursday previously announced underwritten offering of $250 million aggregate principal amount of 2.50% convertible senior notes due 2025.
Alder said it has also granted the underwriters a 30-day option to buy up to an additional $37.5 million aggregate principal amount of the notes to cover over-allotments.
Furthermore, Alder’s preferred stock purchase agreement with certain institutional and other accredited investors affiliated with or managed by the buyers, Redmile Group and Alder’s right to sell to the Buyers the remaining $150 million of preferred stock under that agreement terminated upon the closing of this offering.