PDL BioPharma Announces Offer to Purchase Convertible Notes Due 2021 and 2024
The right to surrender the Notes for repurchase expires at
A Tender Offer Statement on Schedule TO relating to the repurchase will be filed with the
This press release is for information only and is not an offer to purchase, a solicitation of an offer to purchase, or a solicitation of an offer to sell the Notes or any other securities of the Company. The offer to purchase the Notes will be only pursuant to, and the Notes may be tendered only in accordance with, the Fundamental Change Repurchase Notice and related documents. Holders of Notes may request a copy of the Fundamental Change Repurchase Notice from the Paying Agent.
Throughout its history, PDL's mission has been to improve the lives of patients by aiding in the successful development of innovative therapeutics and healthcare technologies. PDL BioPharma was founded in 1986 as Protein Design Labs, Inc. when it pioneered the humanization of monoclonal antibodies, enabling the discovery of a new generation of targeted treatments that have had a profound impact on patients living with different cancers as well as a variety of other debilitating diseases. In 2006, the Company changed its name to PDL BioPharma.
For more information please visit www.pdl.com.
Forward-looking Statements This press release contains "forward-looking statements." Each of these forward-looking statements involves risks and uncertainties. Actual results may differ materially from those, express or implied, in these forward-looking statements. Important factors that could impair the value of the Company's assets and business, including the implementation or success of the Company's monetization strategy/plan of complete liquidation and proposed dissolution, are disclosed in the risk factors contained in the Company's Annual Report on Form 10-K filed on
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PDL BioPharma, Inc., Edward Imbrogno, Vice President & CFO, 775-832-8500, Edward.Imbrogno@pdl.com; LHA Investor Relations: Jody Cain, SVP, 310-691-7100, firstname.lastname@example.org