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08 Noteholders
AtheroGenics Noteholders Expect Company Will Elect Not to Pay 2008 Notes When Due
September 19th, 2008
CNH Partners, LLC, Tamalpais Asset Management LP, Tang Capital Partners, LP, and Zazove Associates LLC (the "08 Noteholders"), which collectively hold approximately 96% of the outstanding 4 1/2 % Convertible Notes Due 2008 (the "08 Notes") issued by AtheroGenics, Inc. ("AtheroGenics"), announced that they expect, based on conversations with representatives of AtheroGenics, that AtheroGenics will elect not to repay their debt under the 08 Notes. The 08 Notes mature today, September 2, 2008, and the principal amount of approximately $30.5 million is due and payable. According to AtheroGenic's latest Quarterly Report on Form 10-Q, AtheroGenics had approximately $66.2 million in cash, cash...
Source: Health Business Week (2008-09-19)
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