Ivax Corp. has raised $110.5 million in a private offering toinstitutional investors of 6.5 percent convertible subordinatednotes due Nov. 15, 2001.

The notes are convertible into common stock at $31.75 pershare at any time before redemption or maturity. They areredeemable in whole or in part at the option the Miamicompany starting on Nov. 15, 1993.

Ivax (AMEX:IVX) is a holding company consisting ofpharmaceutical, diagnostic and specialty chemical operatinggroups. Its stock closed at $27.50, down 25 cents.

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