| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers V > Headlines for ViroPharma Inc. > News item |
Buyers for ViroPharma's $62.5 million senior bridge notes identified
By Sheri Kasprzak
Atlanta, Oct. 19 - ViroPharma Inc. identified the buyers of its private placement of $62.5 million of senior bridge notes in an 8-K filing with the Securities and Exchange Commission Tuesday.
ViroPharma issued the one-year notes and warrants for five million shares of common stock Monday in a Regulation D transaction arranged by Piper Jaffray & Co. with proceeds, plus $53.5 million of cash on hand, earmarked to finance a $116 million asset acquisition from Eli Lilly & Co.
The notes will pay 10% monthly until Feb. 18, 2005, then step-up by 2% monthly until maturity on Oct. 18, 2005.
However, on closing of the acquisition and subject to stockholder approval, ViroPharma intends to swap the bridge notes for 6% convertible notes due 2009 with a 20% initial conversion premium.
Twenty-five buyers were listed in the SEC's Securities Purchase Agreement.
Highbridge International LLC bought $11 million of the notes and 880,000 warrants. Kings Road Investments Ltd. and Salomon Brothers Asset Management Ltd. both bought $4.5 million and 360,000 warrants while Gaia Offshore Master Fund Ltd. and Duquesne Capital Management LLC picked up $4 million of the notes and 320,000 warrants.
Other buyers included Perceptive Life Science Master Fund Ltd., QVT Fund LP, Quogue Capital LLC, Baker/Tisch Investments LP, Baker Biotech Funds I, II and III LP, Argent Classic Convertible Arbitrage Fund Ltd., TQA Special Opportunity Master Fund, TQA Master Fund Ltd., TQA Master Plus Fund Ltd., The Northwest Mutual Life Insurance Co., AG Domestic Convertibles LP, AG Offshore Convertibles Ltd., Alexandra Global Master Fund Ltd., Suttonbrook Capital Portfolio LP, Baystar Capital II LP, Hamilton Multistrategy Master Fund LP, Man MAC 2 Limited and Capital Ventures International.
ViroPharma's stock closed down $0.01 Monday at $2.08.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.