Aerie planning $125M note deal

Aerie Pharmaceuticals Inc. (NASDAQ:AERI) proposed Tuesday to raise $125 million through the sale of senior secured convertible notes to Deerfield Management Company L.P. The notes bear 1.75% interest, mature in September 2021 and initially convert at $24.80, a 30% premium to Aerie's close of $19.08 on Monday, before the offering was announced. MTS Health Partners was Aerie's financial advisor on the deal, which is expected to close this month.

Aerie's Rhopressa ( AR-13324) is in Phase III trials to treat glaucoma, with top-line efficacy data expected in mid-2015. Rhopressa is a dual inhibitor of Rho kinase and the norepinephrine transporter. ...