$SGYP..Synergy Pharmaceuticals Inc. (Nasdaq:SGYP), a developer of new drugs to treat gastrointestinal (GI) disorders and diseases, today announced the full exercise of the over-allotment option granted to the initial purchasers to purchase an additional $25 million aggregate principal amount of 7.50% Convertible Senior Notes due 2019 in connection with its previously announced $175 million Convertible Senior Note offering, bringing total gross proceeds from the offering to $200 million (before deducting the initial purchasers’ discount and other offering expenses payable by the Company). The offering (including the over-allotment option) is expected to close on or about November 3, 2014, subject to customary closing conditions.
The offering is being made to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Actâ€).
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