November 22, 2004
Gilead Sciences Announces Completion of Redemption of 2% Convertible Senior Notes
FOSTER CITY, Calif.--(BUSINESS WIRE)--Nov. 22, 2004--Gilead Sciences, Inc. (Nasdaq:GILD) today announced that it has completed the previously announced redemption of its 2% convertible senior notes due 2007. The aggregate outstanding principal amount of the notes was $345 million. Holders of substantially all of the outstanding notes converted their notes into shares of Gilead's common stock prior to the November 20, 2004 redemption date. As a result of these conversions, 14,667,021 shares of common stock were issued to these note holders. The redemption price was equal to the principal amount of the notes redeemed, plus accrued and unpaid interest to the redemption date. In connection with the redemption, Gilead paid $10,501,088.65 in cash, which includes $90,000.00 for unconverted notes, $10,408,650.10 for the interest and make-whole payment, and $2,438.55, representing cash paid in lieu of fractional shares.
Gilead Sciences is a biopharmaceutical company that discovers, develops and commercializes therapeutics to advance the care of patients suffering from life-threatening diseases worldwide. The company has seven marketed products and focuses its research and clinical programs on anti-infectives. Headquartered in Foster City, CA, Gilead has operations in North America, Europe and Australia.
For more information on Gilead Sciences, please visit www.gilead.com or call the Gilead Public Affairs Department at 1-800-GILEAD-5 (1-800-445-3235).
CONTACT: Gilead Sciences, Inc.
Amy Flood, 650-522-5643
SOURCE: Gilead Sciences, Inc.