Exhibit 99.2
Contact:
Doug Farrell
Vice President of
Investor Relations
408-731-5285
AFFYMETRIX ANNOUNCES
PRICING OF OFFERING OF SENIOR CONVERTIBLE
NOTES DUE 2038
Santa Clara,
Calif. — November 13 , 2007 — Affymetrix
Inc., (Nasdaq: AFFX) announced today that it has entered into an
agreement to sell $275 million aggregate principal amount of
unsecured 3.50% Senior Convertible Notes due 2038. Affymetrix has
granted the underwriter an over-allotment option to purchase up to
$41.25 million aggregate principal amount of additional notes on
the same terms and conditions.
The notes
will be convertible into Affymetrix common stock at an initial
conversion rate of 33.1991 shares per $1,000
principal amount of notes, subject to adjustment. This conversion
rate is equivalent to an initial conversion price of approximately
$30.12 per share. This represents a 39% premium to the last
reported sale price of Affymetrix’ common stock on the NASDAQ
Global Select Market on November 13, 2007.
The Company intends to
use the net proceeds from the offering for working capital and
general corporate purposes, which may include funding its
operations, capital expenditures, potential acquisitions of
businesses, product or technologies it belie
