Gilead Sciences, Inc. (Nasdaq:GILD) today announced that it has elected
to settle its conversion obligations in connection with any 1.00% Senior
Convertible Notes due 2014 (the “Notes”) submitted for conversion on or
after February 1, 2014 entirely in cash.
In accordance with the foregoing, Gilead notified Wells Fargo Bank,
National Association, the Trustee for the Notes, that it had designated
a “Cash Percentage” (as defined in the indenture governing the Notes
(the “Indenture”)) of 100% to apply to the “Daily Share Amount” for
every “Trading Day” during the relevant “Conversion Reference Period”
(each as defined in the Indenture) applicable to the Notes.
About Gilead Sciences
Gilead Sciences is a biopharmaceutical company that discovers, develops
and commercializes innovative therapeutics in areas of unmet medical
need. The company’s mission is to advance the care of patients suffering
from life-threatening diseases worldwide. Headquartered in Foster City,
California, Gilead has operations in North and South America, Europe and
Asia Pacific.
Copyright Business Wire 2014