ANI closes $316.25M convertible notes offering; upsizes due to demand

ANI PHARMACEUTICALS INC

$316.25M aggregate principal of 2.25% convertible senior notes due 2029 issued; upsized from $250M initial offering.
Net proceeds of ~$306.8M; $40.6M used for capped call transactions to reduce potential dilution.
Remainder plus cash on hand used to repay ~$292.5M outstanding under existing senior secured credit agreement.
Entered new $400M credit facility ($325M delayed draw term loan + $75M revolver) to partially finance pending Alimera Sciences merger.
Capped call transactions cap price $114.02/share, a 100% premium over $57.01 closing price on pricing date.

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