By: Benzinga
December 05, 2012 at 16:11 PM EST
PDL BioPharma Announces Conversion Rate Adjustments for Convertible Notes
PDL BioPharma (NASDAQ: PDLI ) today announced that the adjusted conversion rate for the: 2.875% Convertible Senior Notes due February 15, 2015 (February 2015 Notes) is 169.525 shares of common stock per $1,000 principal amount or approximately $5.90 per share, effective December 10, 2012; 3.75% Convertible Senior Notes due
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