Pharma Investments, Ventures & Law Weekly
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Bioengineering
American Oriental Bioengineering Proposes Offering of $85 Million of Convertible Notes
July 27th, 2008
American Oriental Bioengineering, Inc. (NYSE:AOB) announced its intention to offer, subject to market conditions and other factors, $85 million aggregate principal amount of Convertible Senior Notes due 2015 to qualified institutional buyers in a private placement exempt from the registration requirements of the Securities Act of 1933, as amended (the "Securities Act"). AOB currently expects to use approximately $30 million of the proceeds from the offering to repurchase shares of its common stock pursuant to a prepaid forward share repurchase transaction with an affiliate of the placement agent, as counterparty. AOB expects to use the remaining net proceeds from the...
Source: Pharma Investments, Ventures & Law Weekly (2008-07-27)
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