Spectrum Pharma Announces Pricing Of $100 Mln Convertible Senior Notes Due 2018

(RTTNews) - Spectrum Pharmaceuticals, Inc. (SPPI) announced the pricing of its offering of $100 million aggregate principal amount of 2.75 percent convertible senior notes due 2018. The notes will be offered and sold in a private placement to qualified institutional buyers.

The company has also granted an option to the initial purchasers to purchase up to an additional $20 million aggregate principal amount of notes, issuable within 13 calendar days of the original issue date, solely to cover over-allotments.

The offering is expected to close on December 23, subject to satisfaction of customary closing conditions.

The notes will bear cash interest at a rate of 2.75 percent per year, payable semi-annually on June 15 and December 15, beginning on June 15, 2014. They are expected to mature on December 15, 2018.