Exelixis planning $225M note deal, follow-on

Exelixis Inc. (NASDAQ:EXEL) announced concurrent planned offerings of $225 million in convertible senior notes due 2019 and 20 million shares. If the shares are sold at Exelixis' Friday close of $5.58, the company would raise $111.6 million. Goldman Sachs; Cowen; Citigroup; Credit Suisse; and Morgan Stanley are underwriting the note deal. Goldman Sachs; Cowen; Piper Jaffray; Stifel Nicolaus Weisel; and William Blair are underwriting the follow-on. Exelixis was off $0.73 (13%) to $4.85 on Monday. ...