Clovis Oncology Announces Exercise by Initial Purchasers of Their Option to Purchase an Additional $13.0 Million Aggregate Principal Amount of the Company’s 4.50% Convertible Senior Notes ...
Clovis Oncology, Inc. (CLVS)
Last clovis oncology, inc. earnings: 2/24 04:05 pm
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Source: Business Wire
BOULDER, Colo.--(BUSINESS WIRE)--Clovis Oncology, Inc. (NASDAQ: CLVS) announced today that the initial purchasers of the previously announced offering of the Company’s 4.50% Convertible Senior Notes due 2024 (the “notes”) in a private placement to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended, have elected to exercise their option to purchase an additional $13.0 million aggregate principal amount of the notes. The settlement of the option is expected to occur on August 23, 2019, subject to customary closing conditions. Following the closing, there will be a total of $263.0 million aggregate principal amount of the notes outstanding.Clovis Oncology intends to use the net proceeds from the exercise of this option for general corporate purposes, including sales and marketing expenses associated with Rubraca® (rucaparib), funding of Clovis Oncology’s development programs, payment of milestones pursuant to Clovis Oncology’s license ag
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