BAUDETTE, Minn., Dec. 10, 2014 /PRNewswire/ -- ANI
Pharmaceuticals, Inc. (NASDAQ: ANIP) (the "Company") today
announced that it has closed an underwritten public offering of its
3.00% Convertible Senior Notes due 2019 (the "Notes") in the
aggregate principal amount of $143.75
million, which includes the full exercise of the
underwriters' over-allotment option to purchase $18.75 million of Notes.
Net proceeds from the sale of the Notes, including the
over-allotment option exercise and after deducting underwriting
discounts and estimated expenses, was approximately $138.3 million. The Company expects to use
approximately $15.6 million of the
net proceeds of the offering of the Notes to pay the cost of the
convertible note hedge transaction, after such cost is partially
offset by the proceeds of the warrant transaction, to raise the
effective initial conversion price of the Notes, solely from the
Company's perspective, to $96.21 per
share.
Guggenheim Securities, LLC and Nomura Securities International,
Inc. acted as joint book-running managers for the offering.
This press release shall not constitute an offer to sell or a
solicitation of an offer to buy nor shall there be any sale of
these securities in any state in which such offer, solicitation or
sale would be unlawful prior to registration or qualification under
the securities laws of any state.
About ANI Pharmaceuticals, Inc.
ANI Pharmaceuticals, Inc. is an integrated specialty
pharmaceutical company developing, manufacturing, and marketing
branded and generic prescription pharmaceuticals. The Company's
targeted areas of product development currently include narcotics,
oncolytics (anti-cancers), hormones and steroids, and complex
formulations involving extended release and combination
products.
Forward-Looking Statements
To the extent any statements made in this press release deal
with information that is not historical, these are forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995. Such statements include, but are not limited
to, statements about price increases, the Company's future
operations, products, financial position, operating results and
prospects, the Company's pipeline or potential markets therefor,
and other statements that are not historical in nature,
particularly those that utilize terminology such as "anticipates,"
"will," "expects," "plans," "potential," "future," "believes,"
"intends," "continue," other words of similar meaning, derivations
of such words and the use of future dates.
Uncertainties and risks may cause the Company's actual results
to be materially different than those expressed in or implied by
such forward-looking statements. Uncertainties and risks include,
but are not limited to, the risk that the Company may face with
respect to importing raw materials; increased competition; delays
or failure in obtaining product approval from the U.S. Food and
Drug Administration; general business and economic conditions;
market trends; products development; regulatory and other approvals
and marketing.
More detailed information on these and additional factors that
could affect the Company's actual results are described in the
Company's filings with the Securities and Exchange Commission,
including its most recent annual report on Form 10-K and quarterly
reports on Form 10-Q, as well as its proxy statement. All
forward-looking statements in this press release speak only as of
the date of this press release and are based on the Company's
current beliefs, assumptions, and expectations. The Company
undertakes no obligation to update or revise any forward-looking
statement, whether as a result of new information, future events or
otherwise.
For more information about ANI, please contact:
Investor Relations
(218) 634-3608
IR@anipharmaceuticals.com
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SOURCE ANI Pharmaceuticals