Assertio exchanges $30M of 6.50% convertible notes for $10.5M cash + 7M shares; reduces debt by 42.9%

Assertio Holdings, Inc.

$30M principal of 6.50% Convertible Senior Notes due 2027 exchanged for $10.5M cash and ~7M shares.
Debt reduced by 42.9% from $70M to $40M remaining outstanding.
Annual interest savings of $2.0M from reduced debt.
Transaction accretive to diluted EPS by $0.02 in 2023.
Closing expected February 27, 2023; SVB Securities acted as exchange agent.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Assertio Holdings, Inc. entered into Exchange Agreements with a limited number of holders of the Company's 6.50% Convertible Senior Notes due 2027 valued at $30.0 million (effective 2023-02-23).

Action: entry
Agreement: notes offering
Counterparty: a limited number of holders of the Company's 6.50% Convertible Senior Notes due 2027
Value: $30.0 million
Effective: 2023-02-23

Exact text from the filing

On February 23, 2023, Assertio Holdings, Inc. (the “ Company ”) announced it has entered into separate, privately negotiated exchange agreements (the “ Exchange Agreements ”) with a limited number of holders of the Company’s currently outstanding 6.50% Convertible Senior Notes due 2027 (the “ Exchanged Notes ”).

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197 material agreements filed in the last 30 days. Browse all material agreements →

Assertio Holdings, Inc. filing history →

Source: SEC EDGAR

accession 0001104659-23-024510

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