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Cell Genesys, Inc.
Cell Genesys Announces Plans to Commence Exchange Offer for Its Outstanding 3.125% Convertible Notes
May 30th, 2009
Cell Genesys, Inc. (NASDAQ:CEGE) announced that the Company expects to commence an exchange offer to exchange all of the $68.3 million aggregate principal amount of its outstanding 3.125% Convertible Senior Notes due in 2011 (“Existing Notes”) at a purchase price for each $1,000 principal amount of (i) $500 in cash, plus accrued interest, (ii) $140 worth of common stock equal to approximately 206 shares of common stock, and (iii) $310 of new 3.125% convertible senior notes due in May 2013 (“New Notes”). On May 5, 2009, Tang Capital Partners, LP filed a creditor derivative lawsuit in The Court of Chancery of the State of Delaware against Cell Genesys and its directors...
Source: Law & Health Weekly (2009-05-30)
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