Convertibles Calendar: Fluidigm to price $175 million deal

January 30

FLUIDIGM CORP. (Nasdaq: FLDM): $175 million of 20-year convertible senior notes; fixed 2.75% coupon, which was tightened during marketing from 2.75% to 3.25%; 35% to 40% initial conversion premium, which was tightened during marketing from 30% to 35%; $26.25 million greenshoe; via bookrunner Piper Jaffray & Co., non-callable for four years, then provisionally callable for three years at 130% price hurdle; puts in years seven, 10 and 15; takeover and dividend protection; proceeds to fund purchase of DVS Sciences Inc., R&D, commercialization of products, working capital and other general corporate purposes; South San Francisco-based genomics company.

International

On The Horizon

NORTH AMERICAN PALLADIUM LTD. (Toronto: PDL): C$75 million of 7.5% five-year convertibles and warrants in two tranches; upsized C$32 million tranche of convertibles with a C$0.724 initial conversion price, with C$0.869 strike on the warrants; up to C$43 million of 7.5% five-year convertibles and warrants subject to shareholder approval at meeting March 18; registered in the United States and also offered publicly in Canada; via Edgecrest Capital Corp. as lead placement agent and bookrunner; Crede CG III Ltd., a subsidiary of Crede Capital Group LLC, will purchase C$20 million of each tranche; tranche one to close Jan. 30; proceeds for general corporate purposes; Toronto-based platinum group metals exploration company.

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