Vertex holders to swap $111.9 million convertibles due 2013 for stock

By Susanna Moon

Chicago, Nov. 16 - Vertex Pharmaceuticals Inc. plans to exchange $111.9 million principal amount of its convertible senior subordinated notes due February 2013 for 5 million common shares, according to an 8-K filing with the Securities and Exchange Commission.

Vertex said it completed the exchanges of $108.9 million principal amount of notes on Nov. 13 and expects to complete the remaining exchanges by Nov. 17.

The issuer is a biotechnology company based in Cambridge, Mass.

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