PDL BioPharma, Inc. (NASDAQ:PDLI) Files An 8-K Other Events
Item 8.01 Other Events.
press release announcing that it intends to offer, subject to
market and other conditions, $150 million aggregate principal
amount of new convertible senior notes due December 1, 2021
(Notes) under the Companys shelf registration statement filed
with the U.S. Securities and Exchange Commission on June 10,
2016. The Company also expects to grant the underwriters a 12-day
overallotment option to purchase up to an additional $22.5
million aggregate principal amount of notes on the same terms and
conditions. The press release is attached hereto as Exhibit 99.1
and is incorporated herein by reference. The Company is also
filing the investor presentation slides attached hereto as
Exhibit 99.2 and is incorporated herein by reference, which
presentation the Company intends to use in conversations with
prospective investors.
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Exhibit No.
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Description
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99.1
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Press Release
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99.2
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Investor Presentation
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About PDL BioPharma, Inc. (NASDAQ:PDLI)
PDL BioPharma, Inc., formerly Protein Design Labs, Inc., manages a portfolio of patents and royalty assets, consisting of its Queen et al. patents, license agreements with various biotechnology and pharmaceutical companies, and royalty and other assets acquired. The Company provides non-dilutive growth capital and financing solutions to late-stage public and private healthcare companies and offers immediate financial monetization of royalty streams to companies, academic institutions and inventors. It evaluates its investments based on the quality of the income generating assets and potential returns on investment. It is focused on intellectual property asset management, acquiring income generating assets and maximizing value for its stockholders, among others. It receives royalties on sales of over ten humanized antibody products, which include Avastin, Herceptin, Xolair, Kadcyla, Tysabri, Actemra, Gazyva and Entyvio all of which are approved for use. PDL BioPharma, Inc. (NASDAQ:PDLI) Recent Trading Information
PDL BioPharma, Inc. (NASDAQ:PDLI) closed its last trading session down -0.77 at 2.95 with 1,801,636 shares trading hands.