Sep 23 2009
Inverness Medical Innovations, Inc. (NYSE: IMA) announced today that it intends to offer $100 million of senior notes due 2016 through a private placement, subject to market and other conditions. Inverness intends to use the net proceeds from the offering solely to fund its previous announced acquisition of Free & Clear, Inc.
The private placement, which is expected to commence immediately, will be to qualified institutional buyers in reliance on Rule 144A under the Securities Act of 1933, as amended (the "Securities Act"), and outside the United States in compliance with Regulation S under the Securities Act. The notes are not being registered under the Securities Act. Unless so registered, the notes may not be offered or sold in the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state securities laws. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of the notes in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.
Source: Inverness Medical Innovations, Inc.