Affymetrix in Convertible Note Offering, Funding Biotech Acquisition

Cleary Gottlieb represented the underwriters, led by Citigroup and Morgan Stanley, in a registered public offering of $105 million principal amount of convertible senior notes issued by Affymetrix, Inc. The offering closed on June 25, 2012.

Affymetrix develops, manufactures and sells products for genetic analysis to the life science research and clinical healthcare markets. The proceeds of the offering were used as partial funding for Affymetrix’s acquisition of eBioscience Holding Company, Inc., a private company specializing in flow cytometry, immunoassays, microscopic imaging and other protein analyses. The acquisition is a milestone for Affymetrix, substantially advancing the diversification of Affymetrix’ business beyond genomics discovery into cell and protein analysis.