Array raises $115M in note deal

Array BioPharma Inc. (NASDAQ:ARRY) raised $115 million through the sale of 3% unsecured senior convertible notes due June 1, 2020. The notes initially convert at $7.05, a 22% premium to Array's close of $5.78 on Monday, before the company proposed to raise about $100 million in the offering. Goldman Sachs; JPMorgan; Piper Jaffray; and Stifel Nicolaus were underwriters. Array was off $0.23 to $5.09 on Wednesday. ...