May 16, 2018 / 8:59 PM / 6 months ago

BRIEF-Ligand Pharmaceuticals Announces Proposed Offering Of $650 Mln Of Convertible Senior Notes

May 16 (Reuters) - Ligand Pharmaceuticals Inc:

* LIGAND ANNOUNCES PROPOSED OFFERING OF $650 MILLION OF CONVERTIBLE SENIOR NOTES

* LIGAND PHARMACEUTICALS INC - INTENDS TO OFFER $650 MILLION AGGREGATE PRINCIPAL AMOUNT OF CONVERTIBLE SENIOR NOTES DUE 2023 IN A PRIVATE OFFERING

* LIGAND PHARMACEUTICALS - INTENDS TO USE PORTION OF NET PROCEEDS FROM OFFERING OF NOTES TO PAY COST OF CERTAIN CONVERTIBLE NOTE HEDGE TRANSACTIONS

* LIGAND PHARMACEUTICALS - TO USE PROCEEDS FROM OFFERING ALSO TO BUYBACK UP TO $50 MILLION OF CO’S SHARES FROM BUYERS OF NOTES IN PRIVATELY NEGOTIATED DEALS Source text for Eikon: Further company coverage:

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