ANI Pharmaceuticals Enters into Separate Privately Negotiated Agreements with Certain Holders of its Convertible Notes

PRNewswire 7-Dec-2018 8:00 AM

BAUDETTE, Minn., Dec. 7, 2018 /PRNewswire/ -- (NASDAQ:ANIP) ANI Pharmaceuticals, Inc. (the "Company" or "ANI") today announced that it has entered into separate, privately negotiated agreements with certain holders of its outstanding 3.00% Convertible Senior Notes due 2019 (the "Notes"). ANI has agreed to repurchase $25.0 million aggregate principal amount of Notes for a total of $26.1 million in cash, including accrued but unpaid interest up to but excluding the closing date for the transactions.

In connection with the contemplated repurchase of Notes, ANI has also entered into an agreement with the dealer party to certain convertible note hedge transactions related to the Notes to unwind a corresponding portion of such convertible note hedge transactions. ANI has also entered into agreements with such dealer counterparty to unwind certain warrant transactions in amounts corresponding to the portion of the Notes outstanding being repurchased.

This press release does not constitute an offer to sell, nor is it a solicitation of an offer to buy, these securities.

About ANI Pharmaceuticals, Inc.

ANI Pharmaceuticals, Inc. is an integrated specialty pharmaceutical company developing, manufacturing, and marketing branded and generic prescription pharmaceuticals. The Company's targeted areas of product development currently include narcotics, oncolytics (anti-cancers), hormones and steroids, and complex formulations involving extended release and combination products. For more information, please visit our website www.anipharmaceuticals.com.

Forward-Looking Statements

To the extent any statements made in this release deal with information that is not historical, these are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements include, but are not limited to, statements regarding the Company's ability to complete the repurchase transactions and unwind the convertible note hedge transactions and warrant transactions, in addition to statements about price increases, the Company's  future operations, products financial position, operating results and prospects , the Company's pipeline or potential markets therefor, and other statements that are not historical in nature, particularly those that utilize terminology such as "anticipates," "will," "expects," "plans," "potential," "future," "believes," "intends," "continue," other words of similar meaning, derivations of such words and the use of future dates.

Uncertainties and risks may cause the Company's actual results to be materially different than those expressed in or implied by such forward-looking statements. Uncertainties and risks include, but are not limited to, general market conditions, including market factors affecting the price of debt and equity securities; the existence of alternative uses for the Company's cash; the risk that the Company may face with respect to importing raw materials; increased competition; acquisitions; contract manufacturing arrangements; delays or failure in obtaining product approval from the U.S. Food and Drug Administration; general business and economic conditions; market trends; products development; regulatory and other approvals and marketing.

More detailed information on these and additional factors that could affect the Company's actual results are described in the Company's filings with the Securities and Exchange Commission, including its most recent annual report on Form 10-K and quarterly reports on Form 10-Q, as well as its proxy statement. All forward-looking statements in this news release speak only as of the date of this news release and are based on the Company's current beliefs, assumptions, and expectations. The Company undertakes no obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

For more information about ANI, please contact:
Investor Relations
IR@anipharmaceuticals.com

 

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SOURCE ANI Pharmaceuticals, Inc.

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