AtheroGenics exchanges $14 million 4.5% convertibles for stock

By Angela McDaniels

Seattle, Jan. 11 - AtheroGenics Inc. exchanged $14 million of its 4.5% convertible notes due 2008 for 1.085 million shares of its common stock on Tuesday, according to an 8-K report filed with the Securities and Exchange Commission.

AtheroGenics exchanged 858,313 shares for $11.075 million of the notes held by QVT Fund LP and 226,687 shares for $2.925 million of the notes held by Deutsche Bank.

The company originally priced $120 million of the notes in August 2003.

AtheroGenics is a pharmaceutical company based in Atlanta that develops drugs for the treatment of chronic inflammatory diseases.

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