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8-K - FORM 8-K - ILLUMINA, INC. | a59027e8vk.htm |
EX-99.1 - EX-99.1 - ILLUMINA, INC. | a59027exv99w1.htm |
EX-99.3 - EX-99.3 - ILLUMINA, INC. | a59027exv99w3.htm |
Exhibit 99.2
Illumina Prices $800 Million Convertible Senior Notes
Company to Repurchase up to $425 Million in Common Stock
SAN DIEGO, Mar 15, 2011 (BUSINESS WIRE) Illumina, Inc. (NASDAQ:ILMN) today announced the pricing
of $800 million principal amount of 0.25% 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). In connection with the offering, Illumina also granted the initial
purchasers a 30-day option to purchase up to $120 million of additional notes. The offering is
scheduled to close on March 18, 2011, subject to satisfaction of customary closing conditions.
The notes will pay interest semiannually at a rate of 0.25% per annum. The notes will be
convertible under certain circumstances. Upon conversion, the holder of each note would receive, at
our election, cash, shares of Illuminas common stock or a combination thereof, based on an initial
conversion rate of 11.9687 shares of common stock per $1,000 principal amount of the notes, which
is equal to an initial conversion price of approximately $83.55 per share.
Illumina intends 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 |