Salix announces $50M note offering
The USA's Salix Pharmaceuticals says it intends to offer, subject to customary conditions, a $50.0 million aggregate principal amount of convertible senior notes due 2028 to qualified institutional buyers. The North Carolina-based firm also expects to grant the initial purchasers an option to buy up to an additional $7.5 million aggregate principal amount of notes to cover over-allotments.
The US drugmaker intends to use the net proceeds from the offering to fund potential product acquisitions or in-licensing opportunities, to develop and commercialize product candidates and new indications for rifaximin as well as to provide ongoing working capital and for general corporate purposes.
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