UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
8-K
CURRENT
REPORT
Pursuant
to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of
Report (Date of Earliest Event Reported): October 1,
2010
PDL
BioPharma, Inc.
(Exact
name of Company as specified in its charter)
000-19756
(Commission
File Number)
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Delaware
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94-3023969
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|
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(State
or Other Jurisdiction of
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(I.R.S.
Employer Identification No.)
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|
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Incorporation)
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932
Southwood Boulevard
Incline
Village, Nevada 89451
(Address
of principal executive offices, with zip code)
(775)
832-8500
(Company’s
telephone number, including area code)
Check the
appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the Company under any of the following
provisions:
|
¨
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Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
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¨
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Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
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¨
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Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))
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¨
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Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))
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Item
8.01 Other Events.
On
October 4, 2010, PDL BioPharma, Inc. issued a press release announcing that it
has paid the October 1, 2010 special dividend payment. The press
release is attached hereto as Exhibit 99.1 and is incorporated herein by
reference.
Item
9.01 Financial Statements and Exhibits.
(d)
Exhibits.
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Exhibit
No.
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Description
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|
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99.1
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Press
Release, Dated October 4, 2010
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SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the Company has duly
caused this report to be signed on its behalf by the undersigned hereunto duly
authorized.
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PDL
BIOPHARMA, INC.
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||
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(Company)
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||
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By:
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/s/
Christine R.
Larson
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Christine
R. Larson
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Vice
President and Chief Financial
Officer
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Dated: October
4, 2010
EXHIBIT
INDEX
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Exhibit
No.
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Description
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99.1
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Press
Release, Dated October 4, 2010
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Contacts:
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Cris
Larson
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Jennifer
Williams
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PDL
BioPharma, Inc.
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Cook
Williams Communications, Inc.
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775-832-8505
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360-668-3701
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cris.larson@pdl.com
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jennifer@cwcomm.org
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PDL
BioPharma Completes October 1 Special Dividend Payment
INCLINE
VILLAGE, NV, October 4, 2010 –
PDL BioPharma, Inc. (PDL) (NASDAQ: PDLI) today announced that it has paid
the October 1, 2010 special dividend payment of $0.50 per share to all
stockholders owning shares of PDL as of September 15, 2010, the record
date.
As
previously announced, the conversion rate for the Company's 2.00% Convertible
Senior Notes due February 15, 2012 was adjusted to 140.571 shares of common
stock per $1,000 principal amount or $7.11 per share. The conversion rate
adjustment went into effect September 16, 2010.
About
PDL BioPharma
PDL
pioneered the humanization of monoclonal antibodies and, by doing so, enabled
the discovery of a new generation of targeted treatments for cancer and
immunologic diseases. PDL is focused on maximizing the value of its antibody
humanization patents and related assets. The Company receives royalties on sales
of a number of humanized antibody products marketed by leading pharmaceutical
and biotechnology companies today based on patents which expire in late 2014.
For more information, please visit www.pdl.com.
NOTE: PDL
BioPharma and the PDL BioPharma logo are considered trademarks of PDL BioPharma,
Inc.
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