Replies to post #25146 on $heff's $tation of $tocks & $olid DD

[Investor100]

Bought shares on the dip @ SLXP

Took advantage of the dip for shares.

GLTA

Investor 100

[Investor100]

-SLXP-Salix to raise $200M through debt offering

PPS:$36.37

Salix Pharmaceuticals announced Thursday that it plans to raise $200 million though a new debt offering.

The Raleigh-based company (NASDAQ: SLXP) says it will use the proceeds from the fundraiser to pay the cost of capped call transactions, business development activities, commercialization of products, clinical trials, research and development expenses and general administrative expenses.

The company will issue convertible senior notes due in 2015. The unsecured notes will be convertible into shares of Salix’s common stock or a combination of cash and shares. The interest rate, conversion price, offering price and other terms have not yet been determined.

Additionally, the bond underwriters have the option to purchase an additional $30 million in overallotment.

Bank of America Merrill Lynch and Jefferies & Company are acting as managers for the offering.

Read more: Salix to raise $200M through debt offering - Triangle Business Journal

http://triangle.bizjournals.com/triangle/stories/2010/05/24/daily55.html

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