MannKind Repays Maturing Debt Obligation; Buys Back Certain Warrants
July 18 2019 - 8:52AM
MannKind Corporation (NASDAQ: MNKD) today announced the repayment
of outstanding debt by an aggregate amount of approximately $4.0
million and the repurchase of a warrant to purchase approximately
3.3 million shares of common stock.
- The Company repaid approximately $4.0 million of the Deerfield
Financing Obligation that was due July 18, 2019 with $2.42 million
in cash and by issuing 1,514,423 shares of the Company’s common
stock valued at $1.04 per share, the closing price of the Company’s
common stock on July 17, 2019 as reported on the Nasdaq Stock
Market.
- The Company also repurchased a warrant to acquire approximately
3.3 million shares of the Company’s common stock from the holder
thereof for approximately $433,000. Following the repurchase,
the warrant was cancelled and is no longer issued and
outstanding.
About MannKind Corporation
MannKind Corporation (NASDAQ:MNKD) focuses on the development
and commercialization of inhaled therapeutic products for patients
with diseases such as diabetes and pulmonary arterial
hypertension. MannKind is currently commercializing
Afrezza® (insulin human) Inhalation Powder, the Company's
first FDA approved product and the only inhaled rapid-acting
mealtime insulin in the United States, where it is
available by prescription from pharmacies
nationwide. MannKind is headquartered in Westlake
Village, California, and has a state-of-the art manufacturing
facility in Danbury, Connecticut. The Company also
employs field sales and medical representatives across the U.S. For
further information, visit www.mannkindcorp.com.
MannKind Contact:
Rose Alinaya Investor Relations 818-661-5000
ir@mannkindcorp.com
MannKind (NASDAQ:MNKD)
Historical Stock Chart
From Aug 2024 to Sep 2024
MannKind (NASDAQ:MNKD)
Historical Stock Chart
From Sep 2023 to Sep 2024