On Monday, Medivation Inc (NASDAQ:MDVN)’s shares inclined 1.14% to $118.32.
Medivation Inc (MDVN) declared that it has issued a notice of redemption to redeem on July 24, 2015 all of its outstanding 2.625% Convertible Notes due 2017 (the “Notes”). As of June 18, 2015, $167.7 million of the Notes was outstanding. The last stated sale price of Medivation’s common stock was $116.62 per share on June 18, 2015.
The notice of redemption provides that the Notes called for redemption would be redeemed at a stated redemption price equal to 100% of the aggregate principal amount of such Notes, plus accrued and unpaid interest to (but not counting) the redemption date.
Holders may convert the Notes at any time prior to the close of business on July 22, 2015 at a conversion rate of 19.5172 shares of Medivation’s common stock per $1,000 principal amount of Notes (which is equivalent to a conversion price of about $51.24 per share) with a related Conversion Period (as defined in the Indenture for the Notes) of June 23, 2015 through July 21, 2015. Holders who want to convert their Notes must satisfy the requirements set forth in Article 5 of the Indenture for the Notes. In the event that holders elect to convert their Notes in connection with the redemption, the Company will satisfy its conversion obligations to holders by paying cash equal to the principal amount of the Notes and any conversion obligation in excess of the principal amount will be paid in shares of Medivation’s common stock.
Medivation, Inc., a biopharmaceutical company, focuses on the development and commercialization of novel therapies to treat serious diseases in the United States. It offers XTANDI for the treatment of post-chemotherapy metastatic castration-resistant prostate cancer (mCRPC) patients.
Smith & Wesson Holding Corp (NASDAQ:SWHC)’s shares gained 3.65% to $16.77.
Smith & Wesson Holding Corp (SWHC)’s stock closed higher Friday, erasing earlier sharp losses, after an RBC Capital Markets analyst upgraded the gun maker, suggesting its lower-than-predictable full-year profit and sales outlook just makes the guidance easier to beat.
RBC Analyst Steven Cahall raised his rating on Smith & Wesson to outperform from sector perform. He also lifted his stock price target to $21, which is 30% above current levels, from $16.
Smith & Wesson Holding Corporation manufactures and sells firearm products in the United States and internationally. It offers firearms; handguns, counting revolvers and pistols; long guns, such as sporting, bolt action, and single shot rifles; hunting rifles; black powder firearms; handcuffs and restraints; and firearm-related products and accessories. The company sells its products under the Smith & Wesson, M&P, Thompson/Center Arms, and Performance Center brand names.
At the end of Mondays trade, Ciena Corporation (NYSE:CIEN)‘s shares dipped -0.70% to $25.48.
Ciena Corporation (CIEN) and Cyan, Inc. (CYNI), declared that early termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 (the “HSR Act”) has been granted, effective June 15, 2015, for Ciena’s planned acquisition of Cyan.
Expiration of the waiting period under the HSR Act satisfies one of the conditions necessary for the consummation of the merger. The transaction remains subject to other closing conditions, counting certain approvals of Cyan stockholders at its annual meeting presently predictable to be held on Friday, July 31, 2015. The parties continue to expect that this transaction will close during the third quarter of calendar year 2015.
Ciena Corporation provides equipment, software, and services that support the transport, switching, aggregation, service delivery, and administration of voice, video, and data traffic on communications networks worldwide. The company’s Converged Packet Optical segment offers networking solutions optimized for the convergence of coherent optical transport, OTN switching, and packet switching. Its products comprise the 6500 Packet-Optical Platform, 5430 Reconfigurable Switching System, CoreDirector Multiservice Optical Switches, and OTN configuration for the 5410 Reconfigurable Switching System.
Hologic, Inc. (NASDAQ:HOLX), ended its Monday’s trading session with -0.39% loss, and closed at $38.11.
Hologic, Inc. (HOLX) declared recently that it has priced its formerly declared private offering of $1.0 billion aggregate principal amount of 5.250% senior notes due 2022 at an issue price of $1,000 per $1,000. The 2022 notes will be unsecured obligations of the Company and will be guaranteed by certain of its direct and indirect auxiliaries. The offering is predictable to close on July 2, 2015, subject to customary closing conditions.
Hologic intends to use the net proceeds of the offering, plus accessible cash, to redeem its outstanding 6.25% senior notes due 2020 in the aggregate principal amount of $1.0 billion.
Hologic, Inc. develops, manufactures, and supplies diagnostics products, medical imaging systems, and surgical products for women in the United States and internationally. The company operates in four segments: Diagnostics, Breast Health, GYN Surgical, and Skeletal Health. The Diagnostics segment provides Aptima family of assays, target capture/nucleic acid extraction technology, transcription-mediated amplification technology, hybridization protection and dual kinetic assays, instrumentation, Invader chemistry platform, ThinPrep system, fetal fibronectin tests, Procleix family of assays, and virology and infectious disease products.
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