Cepheid Prices $300 Mln 1.25% Convertible Senior Notes Due 2021

(RTTNews) - Molecular diagnostics company Cepheid (CPHD) said it has priced $300 million aggregate principal amount of 1.25 percent Convertible Senior Notes due 2021. The notes will be sold to qualified institutional buyers. The sale is expected to close on February 10.

The size of the offering was increased from the previously announced amount of $250 million.

Cepheid also granted the initial purchasers an option to purchase up to an additional $45 million aggregate principal amount of the notes, to cover over-allotments.

Morgan Stanley & Co. LLC and Jefferies LLC are acting as initial purchasers of the notes.

The notes will have an initial conversion rate of 15.3616 shares of Cepheid common stock per $1,000 principal amount of notes.