ANI closes Novitium buy for $89.5M cash + shares; $300M loan & $25M PIPE

ANI PHARMACEUTICALS INC

Consideration: $89.5M cash + 2.47M shares + up to $46.5M earn-out.
New financing: $300M Term Loan (Truist) + $40M revolver + $25M PIPE from Ampersand.
Appoints Novitium co-founders: Samy Shanmugam as Head of R&D/COO & director; Chad Gassert as SVP Corp Dev.
Pro-forma YTD Sep 30 revenue $202.5M; non-GAAP EBITDA $66.6M; immediately accretive to adj. EPS.
Novitium pipeline: 20+ launches in 18 months, 13 approvals since March 2021, including CGT products.

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Executive movements

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Appointed

Muthusamy Shanmugam

Head of Research & Development and Chief Operating Officer–Novitium Operations

ANIP · ANI PHARMACEUTICALS INC

Filed: November 26, 2021, 6:59 PM ET

On the Closing Date, in connection with the consummation of the Acquisition, the Company announced the appointment of Muthusamy Shanmugam, age 54, as Head of Research & Development and Chief Operating Officer–Novitium Operations.

Key facts

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Executive change SEC 8-K Item 5.02 confidence 0.95

Muthusamy Shanmugam was appointed as Head of Research & Development and Chief Operating Officer–Novitium Operations at ANI PHARMACEUTICALS INC.

Action: appointed
Role: Head of Research & Development and Chief Operating Officer–Novitium Operations

Exact text from the filing

On the Closing Date, in connection with the consummation of the Acquisition, the Company announced the appointment of Muthusamy Shanmugam, age 54, as Head of Research & Development and Chief Operating Officer–Novitium Operations.

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ANI PHARMACEUTICALS INC filing history →

Source: SEC EDGAR

accession 0001104659-21-143748

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