Full Press Release Details
SAN DIEGO , Jan. 11, 2023 /PRNewswire/ -- Halozyme Therapeutics, Inc. (NASDAQ: HALO ) ("Halozyme") today announced that it has elected to redeem on March 17, 2023 (the "Redemption Date") all of its outstanding 1.25% convertible senior notes due 2024 (the "Notes") pursuant to Section 4.03 of the Indenture, dated as of November 18, 2019 (the "Indenture"), between Halozyme and The Bank of New York Mellon Trust Company, N.A., as trustee (in such capacity, the "Trustee"). Halozyme has delivered a notice of redemption to the Trustee.
Holders of the Notes may convert their Notes at any time prior the close of business on the Business Day prior to the Redemption Date, at a conversion rate equal to 42.0331 shares of Halozyme's common stock per $1,000 principal amount of the Notes, which is equivalent to a Conversion Price of approximately $23.79 per share. In accordance with Section 5.03(A) of the Indenture, Halozyme has elected to settle any conversions by delivering a combination of cash and stock with cash in an amount of $1,000 per $1,000 principal amount of the Notes, and the remainder in Halozyme's common stock, together with cash, if applicable, in lieu of delivering any fractional shares of common stock.
Any Notes which have not been converted will be redeemed on the Redemption Date at a price equal to 100% of the principal amount of the Notes to be redeemed, plus accrued and unpaid interest to, but excluding, the Redemption Date.
A copy of the notice of redemption may be obtained from The Bank of New York Mellon Trust Company, N.A., as trustee and paying agent.
Halozyme is a biopharmaceutical company bringing disruptive solutions to significantly improve patient experiences and outcomes for emerging and established therapies. As the innovators of the ENHANZE ® technology with the proprietary enzyme rHuPH20, Halozyme's commercially-validated solution is used to facilitate the delivery of injected drugs and fluids in order to reduce the treatment burden to patients. Having touched more than 600,000 patient lives in post-marketing use in five commercialized products across more than 100 global markets, Halozyme has licensed its ENHANZE ® technology to leading pharmaceutical and biotechnology companies including Roche, Takeda, Pfizer, AbbVie, Eli Lilly, Bristol-Myers Squibb, Alexion, argenx, Horizon Therapeutics, ViiV Healthcare and Chugai Pharmaceutical.
Halozyme also develops, manufactures and commercializes, for itself or with partners, drug-device combination products using its advanced auto-injector technology that are designed to provide commercial or functional advantages such as improved convenience and tolerability, and enhanced patient comfort and adherence. The Company has a commercial portfolio of proprietary products including XYOSTED ® , TLANDO ® and NOCDURNA ® and partnered commercial products and ongoing product development programs with several pharmaceutical companies including Teva Pharmaceutical, Covis Pharma, Pfizer and Idorsia Pharmaceuticals.
Halozyme is headquartered in San Diego, CA and has offices in Ewing, NJ and Minnetonka, MN. Minnetonka is also the site of its operations facility.
This press release may include forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995, as amended. Forward-looking statements are statements that are not historical facts and may include projections and estimates and their underlying assumptions, statements regarding plans, objectives, intentions and expectations with respect to future financial results, events, operations, services, product development and potential and statements regarding future performance. Forward-looking statements are generally identified by the words "expects", "anticipates", "believes", "intends", "estimates", "plans", "will be" and similar expressions and include statements in this press release related to Halozyme's intention to redeem all of the outstanding Notes. Although Halozyme believes that the expectations reflected in such forward-looking statements are reasonable, investors are cautioned that forward-looking information and statements are subject to various risks and uncertainties, many of which are difficult to predict and generally beyond the control of Halozyme, that could cause actual results and developments to differ materially from those expressed in the forward-looking information and statements. Actual results could differ materially from the expectations contained in these forward-looking statements as a result of several factors, including unexpected delays in the redemption of the Notes. These and other factors that may result in differences are discussed in greater detail in the Company's most recently filed Annual Report on Form 10-K and Quarterly Reports on Form 10-Q filed with the Securities and Exchange Commission.
Tram Bui VP, Investor Relations and Corporate Communications 609-359-3016 [email protected]
Dawn Schottlandt / Claudia Styslinger Argot Partners 212-600-1902 [email protected]
SOURCE Halozyme Therapeutics, Inc.