Dendreon is planning to sell $500 million of convertible senior notes. The bonds, due on Jan. 15, 2016, will be convertible into cash, shares of the drug developer’s common stock or a combination of both. The proceeds from the offering will be used to fund the company’s continued investment in and expansion of its manufacturing facilities, to fund new clinical trials for PROVENGE and other product candidates and for general corporate purposes. The offering will be solely led by JP Morgan Securities.
Click here for the release from Dendreon.