Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers A > Headlines for Ablynx > News item |
Ablynx €100 million 3.25% convertibles putable after change of control
By Wendy Van Sickle
Columbus, Ohio, May 25 – Ablynx NV said a change of control occurred on May 14 in relation to its €100 million 3.25% convertible bonds due May 27, 2020, and as a result bondholders are entitled to convert their bonds into shares or require the company to redeem their bonds.
A change-of-control period will run through July 24. During this time, holders may convert the bonds into shares at a conversion price of €11.43 per ordinary share or exercise their rights to put the bonds back to the company for redemption on Aug. 7 at par plus accrued interest, according to a news release.
Ablynx’s ordinary shares closed at €44.96 on May 24.
The conversion price immediately prior to the occurrence of the change of control was €12.6631 per ordinary share.
The change of control occurred following the publication of the results of the voluntary and conditional public takeover bid by Sanofi for all of the outstanding ordinary shares, warrants and convertible bonds of Ablynx.
Ablynx is a Ghent, Belgium-based biopharmaceutical company.
© 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.