Theravance raises $250M in note deal

Theravance Inc. (NASDAQ:THRX) raised $250 million through the sale of 2.125% convertible subordinated notes due 2023. The unsecured notes initially convert at $27.79, which is a 22% premium to Theravance's close of $22.74 on Wednesday, before the offering was announced. BofA Merrill Lynch; Leerink; and Piper Jaffray were underwriters. ...