Cases & Deals

Undisclosed investor completes $13 million exchange offer of Convertible Notes by Oscient Pharmaceuticals

Clients Undisclosed investor

Jones Day represented an undisclosed investor in connection with the exchange of approximately $13 million of 5% Convertible Notes due 2009 issued by Oscient Pharmaceuticals Corporation, a biopharmaceutical company, reducing the conversion price from $53.13 to $1.10 per share, which was accepted by holders of approximately 99% of the 2009 notes. The exchanged notes include a provision for the optional exchange into the Company's 12.50% Convertible Guaranteed Senior Notes due 2011 at the election of the noteholder.