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Fluidigm Announces Pricing of $175 Million Convertible Senior Notes Offering

Companies mentioned in this article: Fluidigm Corporation

SOUTH SAN FRANCISCO, Calif. -- (BUSINESS WIRE) -- Fluidigm Corporation (NASDAQ:FLDM), a supplier of microfluidic systems for growth markets in the life science and agricultural biotechnology industries, today announced the pricing of its offering of $175 million aggregate principal amount of its 2.75% convertible senior notes due 2034 (the “notes”) in an underwritten public offering. Fluidigm has granted the underwriter of the notes a 30-day option to purchase up to an additional $26.25 million aggregate principal amount of the notes to cover over-allotments, if any. The offering is expected to close on or around February 4, 2014, subject to satisfaction of customary closing conditions.

The notes will accrue interest at a fixed rate of 2.75% per year, payable semiannually in arrears on February 1 and August 1 of each year, beginning on August 1, 2014. The notes will mature on February 1, 2034, unless earlier converted, redeemed or repurchased.

Fluidigm intends to use approximately $119.7 million of the net proceeds from this offering to fund the acquisition of DVS Sciences, Inc. Fluidigm expects to use the remaining net proceeds that it will receive from this offering for research and development, commercialization of its products, working capital and other general corporate purposes.

The notes will be convertible into shares of Fluidigm’s common stock at the option of the holders at any time prior to the close of business on the business day immediately preceding the maturity date. The conversion rate will initially be 17.8750 shares of common stock per $1,000 principal amount of notes (equivalent to an initial conversion price of approximately $55.94 per share of common stock).

Fluidigm offered these securities pursuant to a shelf registration statement filed with the Securities and Exchange Commission on January 29, 2014, which became effective upon filing. A prospectus supplement describing the terms of the offering will be filed with the Securities and Exchange Commission and will form a part of the effective registration statement. Copies of the prospectus supplement and accompanying prospectus relating to the offering may be obtained, when available, from Piper Jaffray & Co., Attention: Prospectus Department, 800 Nicollet Mall, J12S03, Minneapolis, MN 55402 or by telephone at 800-747-3924 or by email at prospectus@pjc.com. An electronic copy of the prospectus supplement and accompanying prospectus relating to the offering is available on the website of the Securities and Exchange Commission at www.sec.gov.

This press release does not constitute an offer to sell or the solicitation of offers to buy any securities of Fluidigm, and shall not constitute an offer, solicitation or sale of any security in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.


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Contact:

Fluidigm Corporation
Un Kwon-Casado, CFA, 650-266-6035 (office)
VP, Corporate Development
un.kwon-casado@fluidigm.com
or
Fluidigm Corporation
Howard High, 650-266-6081 (office)
510-786-7378 (mobile)
Press Relations
howard.high@fluidigm.com