- Specialty pharmaceutical company Assertio Holdings ( NASDAQ: ASRT ) intends to offer $60M of convertible senior notes, due Sep. 1, 2027, to qualified institutional buyers.
- The offering is subject to market and other conditions.
- The company also plans to grant the initial purchasers an option to purchase up to an additional $10M of the notes within a 13-day period.
- The convertible notes will initially be senior, unsecured obligations, and will accrue semi-annual interests, payable in arrears.
- The net proceeds are expected to be used to repurchase or redeem its 13% senior secured notes due Jan. 31, 2024, and for general corporate purposes.
- Source: Press Release
For further details see:
Assertio Holdings to offer $60M convertible notes