NPS Pharmaceuticals says greenshoe exercised, raising convertibles to $192 million

New York, July 9 - NPS Pharmaceuticals, Inc. said the underwriters of its recent offering of convertible notes due 2008 exercised the $22 million over-allotment option in full, raising the size of the deal to $192 million.

The Salt Lake City biotech company originally sold $170 million of the securities after the market close on June 11 to yield 3% with a 35% initial conversion premium.

Morgan Stanley was lead manager of the Rule 144A deal.

NPS will use proceeds for general corporate purposes.

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