Current Report Filing (8-k)
October 25 2021 - 7:31AM
Edgar (US Regulatory)
0001434868
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0001434868
2021-10-22
2021-10-22
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xbrli:shares
iso4217:USD
xbrli:shares
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report (Date of Earliest Event Reported):
October 22, 2021
Esperion Therapeutics, Inc.
(Exact name of registrant as specified in
its charter)
Delaware
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001-35986
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26-1870780
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(State or other jurisdiction of
incorporation)
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(Commission File Number)
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(I.R.S. Employer
Identification No.)
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3891 Ranchero Drive, Suite 150
Ann Arbor, MI
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(Address of principal executive offices)
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Registrant’s telephone number, including
area code: (734) 887-3903
Not Applicable
Former name or former address, if changed
since last report
Check the appropriate box below if the Form 8-K filing
is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
¨ Soliciting material pursuant to
Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange
Act (17 CFR 240.14d-2(b))
¨ Pre-commencement communications
pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of
the Act:
Title of each class
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Trading Symbol
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Name of each exchange on which registered
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Common Stock, par value $0.001 per share
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ESPR
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NASDAQ Stock Market LLC
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Indicate by check mark whether the registrant is an emerging
growth company as defined in Rule 405 of the Securities Act of 1933 or Rule 12b-2 of the Securities Exchange Act of 1934.
Emerging
growth company ¨
If an emerging
growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with
any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
¨
Item 1.01 Entry into a Material Definitive Agreement.
On October 22, 2021, Esperion Therapeutics,
Inc. (the “Company”) entered into a privately negotiated exchange agreement (the “Exchange Agreement”) with two
co-managed holders (the “Holders”) of its 4.00% Convertible Senior Subordinated Notes due 2025 (the “Notes”).
Under the terms of the Exchange Agreement the Holders agreed to exchange (the “Exchange”) with the Company $15.0 million aggregate
principal amount of Notes held in the aggregate by them (and accrued interest thereon) for shares of the Company’s common stock,
par value $0.001 per share (the “Common Stock”). Pursuant to the Exchange Agreement, the number of shares of Common Stock
to be issued by the Company to the Holders upon consummation of the Exchange (the “Exchange Shares”) will be determined based
upon the volume-weighted-average-price per share of Common Stock, subject to a floor of $5.62 per share, during the five trading-day averaging
period, commencing on the trading day immediately following the date of the Exchange Agreement. The Exchange is expected to close
on November 3, 2021, subject to the satisfaction of customary closing conditions.
The foregoing description of the Exchange Agreement is only a summary
and is qualified in its entirety by reference to the full text of the form of Exchange Agreement, which is filed as Exhibit 10.1 to this
Current Report on Form 8-K and incorporated by reference in Item 1.01 and Item 3.02.
Item 3.02 – Unregistered Sales
of Equity Securities
The information set forth in Item 1.01 of this Current Report on Form
8-K is incorporated by reference into this Item 3.02.
The issuance of the Exchange Shares under the Exchange Agreement is being made in reliance on the exemption from registration pursuant
to Section 4(a)(2) of the Securities Act of 1933, as amended. The Company relied on this exemption from registration based in part on
representations made by the Holders in the Exchange Agreement.
Item 7.01 - Regulation FD Disclosure
On October 25, 2021, the Company issued a press release announcing
that it entered into a privately negotiated exchange agreement. A copy of the press release is attached hereto as Exhibit 99.1 and is
incorporated into this Item 7.01 by reference.
The information in this Current Report on Form 8-K and Exhibit 99.1
attached hereto is intended to be furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange
Act of 1934, as amended (the “Exchange Act”) or otherwise subject to the liabilities of that section, nor shall it be deemed
incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth
by specific reference in such filing.
Item 9.01 Financial Statements and Exhibits
(d) Exhibits.
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*
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Schedules, exhibits and similar supporting attachments or agreements to the Exchange Agreement are omitted
pursuant to Item 601(b)(2) of Regulation S-K. The Registrant agrees to furnish a supplemental copy of any omitted schedule or similar
attachment to the Securities and Exchange Commission upon request.
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Forward-Looking Statements
This Report contains forward-looking statements that are made pursuant
to the safe harbor provisions of the federal securities laws, including statements relating to the expected closing of the exchange of
the Notes pursuant to the Exchange Agreement. Such forward-looking statements involve risks and uncertainties that could cause actual
results to differ materially from predicted or expected results. The inclusion of forward-looking statements should not be regarded as
a representation by the Company that any of these results will be achieved. Actual results may differ from those set forth in this Report
due to the risks and uncertainties associated with the satisfaction of closing conditions under the Exchange Agreement and with entering
into additional exchange agreements, as well as risks and uncertainties described in the Company’s filings with the U.S. Securities
and Exchange Commission. Any forward-looking statements contained in this Report speak only as of the date
hereof, and the Company disclaims any obligation or undertaking to update or revise any forward-looking statements contained in this press
release, other than to the extent required by law. All forward-looking statements are qualified in their entirety by this cautionary statement.
SIGNATURES
Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Date: October 25, 2021
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Esperion Therapeutics, Inc.
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By:
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/s/ Sheldon L. Koenig
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Sheldon L. Koenig
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President and Chief Executive Officer
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