This article has been modified from its original content. The original article stated incorrectly that PDL's "Series 2012 Notes" would be convertible on October 31, 2012, and that PDL shareholders would be diluted by 21%. This is factually incorrect. The "Series 2012 Notes" are not currently convertible. Further, the notes "net share settle,": which means that upon conversion, the principal amount of the notes will be repaid in cash.