Encysive Announces Pricing of Convertible Senior Notes

Encysive Pharmaceuticals announced the pricing of $115 million principal amount of its Convertible Senior Notes due 2012 through a private placement to qualified institutional buyers pursuant to Rule 144A of the Securities Act of 1933, as amended. The notes will bear interest at a rate of 2 ½ percent per annum and be convertible into Encysive common stock at an initial conversion rate of 71.7077 shares of common stock per $1,000 principal amount of notes, subject to adjustment (equivalent to a conversion price of approximately $13.95 per share).

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