Affymetrix Announces Redemption of 3.50% Senior Convertible Notes

SANTA CLARA, Calif.--()--Affymetrix, Inc., (NASDAQ: AFFX) today has given notice of its intention to redeem all of the outstanding 3.50% Senior Convertible Notes due 2038 (CUSIP 00826TAG3) (the “Convertible Notes”) on January 15, 2013. As of November 15, 2012, there was approximately $3.9 million aggregate principal amount of the Convertible Notes outstanding. The Convertible Notes will be redeemed at a redemption price of 100% of the principal amount of the Convertible Notes redeemed, plus accrued and unpaid interest up to, but excluding, the redemption date.

The Convertible Notes are convertible at any time prior to the close of business on January 14, 2013 at a rate of 33.1991 shares of common stock per $1,000 principal amount. The Convertible Notes surrendered for conversion will be settled in cash and stock in accordance with the provisions of the indenture.

The Bank of New York Mellon Trust Company, N.A., the trustee for the Convertible Notes, is distributing a Notice of Redemption to all registered holders of the Convertible Notes on December 3, 2012. Copies of such Notice of Redemption and additional information relating to the procedure for redemption and/or conversion of the Convertible Notes may be obtained from The Bank of New York Mellon Trust Company, N.A. by calling 1-800-254-2826.

This announcement does not constitute an offer to buy or sell or the solicitation of an offer to sell or buy securities in any jurisdiction.

About Affymetrix

Affymetrix technology is used by the world's top pharmaceutical, diagnostic, and biotechnology companies, as well as leading academic, government, and nonprofit research institutes. More than 2,200 systems have been shipped around the world and almost 26,000 peer-reviewed papers have been published using the technology. Affymetrix is headquartered in Santa Clara, California, and has manufacturing facilities in Cleveland, Ohio, and Singapore. eBioscience is headquartered in San Diego, California and has manufacturing facilities in San Diego and Vienna, Austria. Including eBioscience, the Company has about 1,200 employees worldwide and maintains sales and distribution operations across Europe, Asia and Latin America.

Forward-Looking Statements

All statements in this press release that are not historical are "forward-looking statements" within the meaning of Section 21E of the Securities Exchange Act as amended, including statements regarding Affymetrix's "expectations," "beliefs," "hopes," "intentions," "strategies" or the like. Such statements are subject to risks and uncertainties that could cause actual results to differ materially for Affymetrix from those projected, including, but not limited to: Affymetrix's ability to timely and successfully integrate and realize the anticipated strategic benefits and costs savings or other synergies of the acquisition of eBioscience in a cost-effective manner while minimizing the disruption to its business; risks that eBioscience’s future performance may not be consistent with its historical performance; risks relating to Affymetrix's ability to make scheduled payments of the principal of, to pay interest on or to refinance its indebtedness; risks relating to Affymetrix's ability to successfully develop and commercialize new products, including its ability to successfully develop and commercialize novel molecular solutions based on eBioscience’s portfolio of reagents; risks relating to past and future acquisitions, including the ability of Affymetrix to successfully integrate such acquisitions into its existing business; risks of Affymetrix's ability to achieve and sustain higher levels of revenue, higher gross margins and reduced operating expenses; risks relating to Affymetrix’s ability to generate cash in the second half of 2012 after interest and principal payments; uncertainties relating to technological approaches; risks associated with manufacturing and product development; personnel retention; uncertainties relating to cost and pricing of Affymetrix products; dependence on collaborative partners; uncertainties relating to sole-source suppliers; uncertainties relating to FDA and other regulatory approvals; competition; risks relating to intellectual property of others and the uncertainties of patent protection and litigation. These and other risk factors are discussed in Affymetrix's Annual Report on Form 10-K for the year ended December 31, 2011, and other SEC reports. Affymetrix expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in Affymetrix's expectations with regard thereto or any change in events, conditions or circumstances on which any such statements are based.

PLEASE NOTE:

Affymetrix, the Affymetrix logo, GeneChip, and all other trademarks are the property of Affymetrix, Inc.

Contacts

Affymetrix, Inc.
Doug Farrell, 408-731-5285
Vice President of Investor Relations

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