Algeta holders may redeem, convert 3.375% bonds after change of control

By Jennifer Chiou

New York, March 12 - Algeta ASA announced that holders of its $120 million of 3.375% convertible bonds due 2018 may redeem their notes at par plus accrued interest or convert their securities following a change-of-control event.

The change-of-control event took place on March 6 when Aviator Acquisition AS, an indirect subsidiary of Bayer AG, became the owner of over 98% of the voting shares of Algeta.

The change-of-control conversion price is $40.8559.

The conversion period started on March 6 and will end on May 11.

Norsk Tillitsmann ASA is the trustee.

Oslo-based Algeta is a private therapeutics company dedicated to the development of novel anticancer therapeutics based on alpha particle emitting radionuclides.

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