SOUTH SAN FRANCISCO, Calif.--(BUSINESS WIRE)--Aug. 24, 2016--
Exelixis, Inc. (NASDAQ:EXEL) today announced that it has called for
redemption approximately $48.1 million of its 4.25% Convertible Senior
Subordinated Notes due 2019, representing all remaining notes
outstanding. The redemption will be made in accordance with the terms of
the indenture governing the notes and the terms of the redemption notice.
Any notes outstanding on November 2, 2016 will be redeemed in cash for
100% of the principal amount thereof, plus accrued and unpaid interest
on the notes redeemed to, but excluding, the redemption date. Holders
may convert their notes into shares of Exelixis’ common stock, plus cash
in lieu of any fractional share, if applicable, at a conversion rate of
188.2353 shares of common stock per $1,000 principal amount of notes at
any time before 5:00 p.m.New York City time on October 31, 2016 upon
satisfaction of the requirements set forth in the indenture governing
the notes.
A redemption notice is being delivered to all holders of the notes
through the Depository Trust Company. Copies of the redemption notice
and additional information relating to the procedures for redemption and
conversion may be obtained from the trustee, paying agent and conversion
agent, Wells Fargo Bank, National Association, by calling 1 (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 Exelixis
Exelixis, Inc. (NASDAQ:EXEL) is a biopharmaceutical company committed to
the discovery, development and commercialization of new medicines with
the potential to improve care and outcomes for people with cancer. Since
its founding in 1994, three medicines discovered at Exelixis have
progressed through clinical development to receive regulatory approval.
Currently, Exelixis is focused on advancing cabozantinib, an inhibitor
of multiple tyrosine kinases including MET, AXL and VEGF receptors,
which has shown clinical anti-tumor activity in more than 20 forms of
cancer and is the subject of a broad clinical development program. Two
separate formulations of cabozantinib have received regulatory approval
to treat certain forms of kidney and thyroid cancer and are marketed for
those purposes as CABOMETYX™ tablets (U.S.) and COMETRIQ® capsules
(U.S. and EU), respectively. Another Exelixis-discovered compound,
COTELLIC® (cobimetinib), a selective inhibitor of MEK, has
been approved in major territories including the United States and
European Union, and is being evaluated for further potential indications
by Roche and Genentech (a member of the Roche Group) under a
collaboration with Exelixis. For more information on Exelixis, please
visit www.exelixis.com or
follow @ExelixisInc on Twitter.
Exelixis, the Exelixis logo, COMETRIQ and COTELLIC are registered
U.S. trademarks, and CABOMETYX is a U.S. trademark.
Forward-Looking Statements
This announcement contains forward-looking statements, including
statements relating to Exelixis’ expectations regarding the potential
conversion and/or redemption of the notes. These statements are subject
to significant risks and uncertainties, actual results could differ
materially from those projected and Exelixis cautions investors not to
place undue reliance on the forward-looking statements contained in this
release. These risks and uncertainties include, without limitation,
risks and uncertainties related to market conditions and satisfaction of
closing conditions related to the redemption. Risks and uncertainties
relating to Exelixis and its business can be found in the “Risk Factors”
section of Exelixis’ Form 10-Q, filed with the SEC on August 3, 2016.
Exelixis undertakes no duty or obligation to update any forward-looking
statements contained in this release as a result of new information,
future events or changes in Exelixis’ expectations.
View source version on businesswire.com: http://www.businesswire.com/news/home/20160824005494/en/
Source: Exelixis, Inc.
Exelixis, Inc.
Chris Senner, 650-837-7240
Chief
Financial Officer
csenner@exelixis.com
Susan
Hubbard, 650-837-8194
Investor Relations & Public Affairs
shubbard@exelixis.com
