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8-K - FORM 8-K - ILLUMINA, INC. | a59027e8vk.htm |
EX-99.2 - EX-99.2 - ILLUMINA, INC. | a59027exv99w2.htm |
EX-99.3 - EX-99.3 - ILLUMINA, INC. | a59027exv99w3.htm |
Exhibit 99.1
Illumina to Offer $800 Million Convertible Senior Notes
Company to Repurchase up to $425 Million in Common Stock
SAN DIEGO, Mar 14, 2011 (BUSINESS WIRE) Illumina, Inc. (NASDAQ:ILMN) today announced its
intention to offer, subject to market and other conditions, approximately $800 million principal
amount of Convertible Senior Notes due 2016 through offerings to qualified institutional buyers
pursuant to Rule 144A under the Securities Act of 1933, as amended (the Securities Act). The
notes will be convertible under certain circumstances. Upon conversion, holders will receive, at
Illuminas discretion, cash, shares of Illuminas common stock or a combination thereof. Illumina
also expects to grant the initial purchasers an option to purchase up to $120 million of additional
notes. The interest rate, conversion price and other terms of the notes will be determined by
negotiations between Illumina and the initial purchasers of the notes.
Illumina expects to use up to $425 million of the net proceeds from this offering to purchase
shares of its common stock in privately negotiated transactions concurrently with this offering.
The company also intends to use between approximately $260 million and $390 million of the net
proceeds of the offering to fund conversions of its currently outstanding convertible notes.
Illumina intends to use the balance of the net proceeds for other general corporate purposes, which
may include acquisitions and additional purchases of its common stock.
This press release does not constitute an offer to sell or the solicitation of an offer to buy
securities. Any offers of the securities will be made only by means of a private offering
memorandum. The securities and the shares of Illumina common stock issuable upon conversion or
exercise of the securities have not been, and will not be, registered under the Securities Act or
the securities laws of any other jurisdiction and may not be offered or sold in the United States
absent registration or an applicable exemption from registration requirements.
Use of forward looking statements
This release contains forward-looking statements that involve risks and uncertainties. These
forward-looking statements are based on Illuminas expectations as of the date of this release and
may differ materially from actual future events or results. Risks that could impact this offering
are described in Illuminas filings with the Securities and Exchange Commission, including its most
recent filing on Form 10-K. Illumina undertakes no obligation, and does not intend, to update
these forward-looking statements, to review or confirm analysts expectations, or to provide
interim reports or updates on the progress of the current financial quarter.
About Illumina
Illumina is a leading developer, manufacturer, and marketer of life science tools and integrated
systems for the analysis of genetic variation and function.
# # #
CONTACT: Investors: Peter J. Fromen Sr. Director, Investor Relations +858-202-4507 pfromen@illumina.com |
Media: Wilson Grabill Sr. Manager, Public Relations +858-882-6822 wgrabill@illumina.com |