BAUDETTE, Minn., Dec. 7, 2018 /PRNewswire/ -- (NASDAQ: ANIP)
ANI Pharmaceuticals, Inc. (the "Company" or "ANI") today announced
that it has entered into separate, privately negotiated agreements
with certain holders of its outstanding 3.00% Convertible Senior
Notes due 2019 (the "Notes"). ANI has agreed to repurchase
$25.0 million aggregate principal
amount of Notes for a total of $26.1
million in cash, including accrued but unpaid interest up to
but excluding the closing date for the transactions.
In connection with the contemplated repurchase of Notes, ANI has
also entered into an agreement with the dealer party to certain
convertible note hedge transactions related to the Notes to unwind
a corresponding portion of such convertible note hedge
transactions. ANI has also entered into agreements with such dealer
counterparty to unwind certain warrant transactions in amounts
corresponding to the portion of the Notes outstanding being
repurchased.
This press release does not constitute an offer to sell, nor is
it a solicitation of an offer to buy, these securities.
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.
For more information, please visit our website
www.anipharmaceuticals.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 regarding the Company's ability to complete the
repurchase transactions and unwind the convertible note hedge
transactions and warrant transactions, in addition 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, general market conditions, including market
factors affecting the price of debt and equity securities; the
existence of alternative uses for the Company's cash; 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.