BOULDER, Colo., Dec. 4, 2017 /PRNewswire/ -- Array BioPharma Inc. (Nasdaq: ARRY) ("Array" or the "Company") today announced that it has called for redemption approximately $6.2 million of its 3.00% Convertible Senior Notes due 2020 (the "2020 Notes") representing all remaining 2020 Notes outstanding. The redemption will be made in accordance with the terms of the indenture governing the 2020 Notes and the terms of the redemption notice.
Any Notes outstanding on January 3, 2018 will be redeemed in cash for 100% of the principal amount thereof, plus accrued and unpaid interest to, but excluding the redemption date. Holders may convert their 2020 Notes into shares of Array's common stock, plus cash in lieu of any fractional share, if applicable, at a conversion rate of 147.5566 shares of common stock per $1,000 principal amount of 2020 Notes at any time prior to the close of business on January 2, 2018 upon satisfaction of the requirements set forth in the indenture governing the 2020 Notes.
A redemption notice is being delivered to all holders of the 2020 Notes through Wells Fargo Bank, National Association, the trustee under the indenture. Copies of the redemption notice and additional information relating to the procedures for redemption and conversion may be obtained from Wells Fargo Bank, National Association, by calling (800) 344-5128.
This announcement is for informational purposes only and is not an offer to purchase or sell or a solicitation of an offer to purchase or sell, with respect to any securities.
About Array BioPharma
Array BioPharma Inc. is a biopharmaceutical company focused on the discovery, development and commercialization of targeted small molecule drugs to treat patients afflicted with cancer. Nine registration studies are currently advancing related to seven Array-owned or partnered drugs: binimetinib (MEK162), encorafenib (LGX818), selumetinib (partnered with AstraZeneca), danoprevir (partnered with Roche), ipatasertib (partnered with Genentech), larotrectinib (partnered with Loxo Oncology) and tucatinib (partnered with Cascadian Therapeutics).
Certain statements contained herein may constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are not historical facts and are based on current expectations, estimates and projections about the Company's industry, management's beliefs and certain assumptions made by management, many of which, by their nature, are inherently uncertain and beyond our control. Accordingly, readers are cautioned that any such forward-looking statements are not guarantees of future performance and are subject to certain risks, uncertainties and assumptions that are difficult to predict including, without limitation, risks and uncertainties related to market conditions and satisfaction of closing conditions related to the redemption and such other factors as are set forth in the risk factors detailed from time to time in the Company's periodic reports filed with the Securities and Exchange Commission ("SEC") including, without limitation, the risk factors detailed in the Company's Annual Report on Form 10-K for the year ended June 30, 2017. Since such statements involve risks and uncertainties, the actual results and performance of the Company may turn out to be materially different from the results expressed or implied by such forward-looking statements, and readers are cautioned not to place undue reliance on such forward-looking statements. Readers should carefully review the risks and uncertainties disclosed in the Company's reports with the SEC, including, without limitation, those detailed under the heading "Risk Factors" in the Company's Annual Report on Form 10-K for the year ended June 30, 2017, and in other reports or documents the Company files with, or furnishes to, the SEC from time to time. The information in this press release is as of December 4, 2017, and the Company disclaims any obligation to update any such risks or uncertainties or to announce publicly the result of any changes to the forward-looking statements made herein, unless otherwise required by law.
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SOURCE Array BioPharma Inc.