Assertio Therapeutics Announces Repurchase of Approximately $188.0 Million of its Outstanding Convertible Debt
February 19 2020 - 8:00AM
Assertio Therapeutics, Inc. (“Assertio” or “The Company”) (NASDAQ:
ASRT), today announced it has entered into separate, privately
negotiated agreements (the “Purchase Agreements”) with a limited
number of holders of Assertio’s currently outstanding 2.50%
Convertible Notes due 2021 and 5.00% Convertible Senior Notes due
2024 (the “Purchased Notes”).
Pursuant to the Purchase Agreements, Assertio will repurchase
approximately $188.0 million aggregate principal amount of
Purchased Notes for a cash payment plus accrued but unpaid interest
on the Purchased Notes.
SunTrust Robinson Humphrey, Inc. acted as Sole Exchange Agent
and Financial Advisor to Assertio in connection with the
transactions and Gibson, Dunn & Crutcher LLP acted as legal
counsel to Assertio.
This news release shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of
these securities in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction.
About Assertio Therapeutics, Inc.
Assertio Therapeutics is committed to providing responsible
solutions to advance patient care in the Company’s core areas of
neurology, orphan and specialty medicines. Assertio currently
markets two FDA-approved products and continues to identify,
license and develop new products that offer enhanced options for
patients that may be underserved by existing therapies. To learn
more about Assertio, visit www.assertiotx.com.
"Safe Harbor" Statement Under the
Private Securities Litigation Reform Act of 1995
This news release contains forward-looking
statements. Words such as "anticipates," "estimates," "expects,"
"projects," "forecasts," "intends," "plans," "will," "believes" and
words and terms of similar substance used in connection with any
discussion identify forward-looking statements. These
forward-looking statements are based on management's current
expectations and beliefs about future events and are inherently
susceptible to uncertainty and changes in circumstance These
statements involve inherent risks and uncertainties that could
cause actual results to differ materially from those projected or
anticipated, including risks related to the proposed purchase
transactions and other risks outlined in Assertio’s public filings
with the Securities and Exchange Commission, including Assertio’s
most recent annual report on Form 10-K and subsequent quarterly
reports on Form 10-Q. All information provided in this news
release speaks as of the date hereof. Except as otherwise
required by law, Assertio undertakes no obligation to update or
revise its forward-looking statements.
Investor and Media Contact:
Dan Peisert Senior Vice President and Chief Financial
Officerdpeisert@assertiotx.com
SOURCE Assertio Therapeutics, Inc.
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