CV Therapeutics proposes follow-on, $100M note deal

CVTX proposed to sell 6 million shares in a follow-on and to raise $100 million through the sale of convertible senior subordinated notes due 2013. Lehman and Merrill Lynch are joint lead managers and joint bookrunners for both offerings. Piper Jaffray; SG Cowen; and First Albany Capital are co-managers of the stock offering, while Citigroup and Deutsche Bank Securities are co-managers of the debt offering. CVTX said it will use a portion of the proceeds from the note deal to repurchase some or all of the outstanding $79.6 million of its 4.75% convertible subordinated notes due 2007. ...