Antigenics issues shares for $2.29 million 5.25% convertibles, amends terms of 2006 convertibles

By Jennifer Chiou

New York, April 22 - Antigenics Inc. entered into an agreement with Invus Public Equities LP to issue 954,167 common shares in exchange for the $2.29 million of its 5.25% convertible senior notes due February 2025 held by Invus, according to an 8-K filed Thursday with the Securities and Exchange Commission.

The exchange amount includes accrued interest.

On Wednesday, Antigenics amended its senior secured convertible notes issued on Oct. 30, 2006 after entering into an agreement with majority holder Ingalls & Synder Value Partners LP.

According to the 8-K, the fourth amendment modified the definition of an event of default under the 2006 notes' indenture to exclude the redemption and repurchase of up to an additional $2.29 million of the 5.25% convertibles. It also modified certain anti-dilutive rights of the holders of the 2006 notes upon the sale of certain new securities.

Antigenics is a New York-based biotechnology company with a focus on cancers and infectious diseases.

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