- Expects to grant the initial purchasers an option to purchase up to an additional $7.5M aggregate principal amount of notes to cover over-allotments.
- The notes will be convertible, under certain circumstances, into cash, shares of common stock or any combination thereof at the company's election.
- Intends to use the net proceeds from the offering to fund potential product acquisition or in-licensing opportunities, to develop and commercialize product candidates and new indications for rifaximin and to provide ongoing working capital and for general corporate purposes.

Other headlines for [SLXP]

• SLXP 11/18/2008 12:31pm
  Salix Pharmaceuticals Ltd FDA extends review date by three months for Metozol- SLXP says extension has no impact on its previously announced financial guidance for 2008
  
• SLXP 11/18/2008 11:00am
  Salix Pharmaceuticals Ltd Announces issuance of U.S. Patent for Rifaximin- Provides protection relating to rifaximin for treating irritable bowel syndrome (IBS) caused by small intestinal bacterial overgrowth. - Salix has more...
  
• SLXP 11/5/2008 04:02pm
  Salix Pharmaceuticals Ltd Reports Q3 -$0.11 v -$0.31e, R $42.9M v $43.6Me- Guides FY08 -$0.90 v -$1.05e, R$178-180M v $176.3Me - Cash and cash equivalents were $121.9M on September 30, 2008.
  
• SLXP 10/31/2008 03:53pm
  Salix Pharmaceuticals Ltd APRISO Granted FDA Marketing Approval for Maintenance of Remission of Ulcerative Colitis- APRISO is the first and only 5-ASA with Intellicor extended release delivery technology. - The Company more...
  
• SLXP 10/9/2008 01:13pm
  Salix Pharmaceuticals Ltd Block of 1M shares trades at $7.00
  

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