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Medicis Files Exchange Offer for Convertible Notes.

Publication: Business Wire
Publication Date: 16-JUL-03 		Format: Online
Delivery: Immediate Online Access

Article Excerpt
Business Editors/Health/Medical Writers

SCOTTSDALE, Ariz.--(BUSINESS WIRE)--July 16, 2003

Medicis (NYSE: MRX) today filed a registration statement and a tender offer statement with other related documents with the Securities and Exchange Commission for an exchange offer for its 2.5% Contingent Convertible Senior Notes due June 2032.

Medicis is offering to exchange up to $400 million in aggregate principal amount of its existing 2.5% Contingent Convertible Senior Notes due June 2032 for $492 million in aggregate principal amount of its new 1.5% Contingent Convertible Senior Notes due June 2033. Each $1,000 in principal amount of its existing notes accepted for exchange will be exchanged for $1,230 in principal amount of new notes. Upon the occurrence of certain events, the new notes will be convertible into Class A common stock of Medicis.

The exchange offer is subject to the satisfaction or waiver of several conditions, including that a minimum of $200 million of the existing notes has been validly...

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