BioCentury
ARTICLE | Financial News

Ligand planning $225M note deal, launches $200M buyback

August 12, 2014 1:21 AM UTC

Ligand Pharmaceuticals Inc. (NASDAQ:LGND) said late Monday it plans to raise $225 million through the sale of convertible senior notes due in 2019. Additionally, the company said its board has authorized a one-year $200 million share repurchase program. Ligand has about 20.8 million shares outstanding. BofA Merrill Lynch and Deutsche Bank are joint book-running managers. Ligand, which made the announcement after market close, was up $2.16 to $53.65 on Monday. ...