BAUDETTE, Minnesota,
May 13, 2016 /PRNewswire/ -- ANI
Pharmaceuticals, Inc. ("ANI") (Nasdaq: ANIP) today announced that
it has entered a new three year senior secured asset-based
revolving credit facility for up to $30
million. This facility will be secured by inventory and
certain other working capital and related assets of ANI
Pharmaceuticals, Inc.
Arthur S. Przybyl, ANI's
President and CEO stated, "Establishing a line of credit is an
important milestone for ANI and one we view as appropriate given
our company's recent growth and future plans. We are excited
to enter this financial partnership with Citizens Bank."
"ANI Pharmaceuticals is a great new client and Citizens is very
happy to be able to offer our industry expertise to help them
achieve their strategic and financial goals," said Daniel K. Fitzpatrick, Head of National
Mid-Corporate and Industry Verticals at Citizens Bank.
About ANI
ANI Pharmaceuticals, Inc. (the "Company" or "ANI") 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. For more information, please
visit our website www.anipharmaceuticals.com.
About Citizens Financial Group, Inc.
Citizens Financial Group, Inc. is one of the nation's oldest and
largest financial institutions, with $140.1
billion in assets as of March 31,
2016. Headquartered in Providence, Rhode Island, Citizens offers a broad range of
retail and commercial banking products and services to individuals,
small businesses, middle-market companies, large corporations and
institutions. In Consumer Banking, Citizens helps its retail
customers "bank better" with mobile and online banking, a 24/7
customer contact center and the convenience of approximately 3,200
ATMs and approximately 1,200 Citizens Bank branches in 11 states in
the New England, Mid-Atlantic and Midwest regions. Citizens also
provides mortgage lending, auto lending, student lending and
commercial banking services in select markets nationwide. In
Commercial Banking, Citizens offers corporate, institutional and
not-for-profit clients a full range of wholesale banking products
and services including lending and deposits, capital markets,
treasury services, foreign exchange and interest hedging, leasing
and asset finance, specialty finance and trade finance.
Citizens operates through its subsidiaries Citizens Bank, N.A.
and Citizens Bank of Pennsylvania. Additional information
about Citizens and its full line of products and services can be
found at www.citizensbank.com.
Forward-Looking Statements
To the extent any statements made in this 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;
acquisitions; contract manufacturing arrangements; 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 news release speak only as of
the date of this news 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
IR@anipharmaceuticals.com
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SOURCE ANI Pharmaceuticals, Inc.