Antigenics amends 2006 notes to allow repurchase of 5.25% convertibles

By Susanna Moon

Chicago, Nov. 14 - Antigenics Inc. revised the definition of an event of default under its senior secured convertible notes to exclude the redemption and repurchase of up to $15 million of the company's 5.25% convertible senior notes due 2025, according to an 8-K filing with the Securities and Exchange Commission.

Antigenics also modified certain anti-dilutive rights of holders upon the company's issuance and sale of certain new securities up to the amount expended by the company for the 2005 note repurchase.

The amendments were made under an agreement on Nov. 11 with Ingalls & Synder Value Partners LP, the majority holder of its convertibles.

The convertibles were issued on Oct. 30, 2006.

New York-based Antigenics develops treatments for cancers, infectious diseases and autoimmune disorders.

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