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Gilead says all 5% convertibles exchanged for stock ahead of call
New York, Dec. 22 - Gilead Sciences, Inc. said holders of all its 5% convertible subordinated notes due 2007 exchanged their securities for stock ahead of the announced redemption.
As a result, the Foster City, Calif. biopharmaceutical company issued 10,178,098 shares.
The redemption price would have been $1,028.57 per $1,000 of principal amount of the notes, plus accrued and unpaid interest to the redemption date.
Gilead paid $244,149.86 in cash to holders, made up of $243,055.56 in interest and $1,094.30 in lieu of fractional shares.
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