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Supernus nets $391.3mm through convertible debt sale
26 Mar 2018
Executive Summary
CNS-focused Supernus Pharmaceuticals Inc. netted $391.3mm through the private placement of $402.5mm in 0.625% senior notes due 2023 (including full exercise of a 30-day option to buy another $52.5mm aggregate principal amount of notes). The notes are convertible at a rate of 16.8545 shares per $1k principal, or $59.33/share. (The stock was averaging $41.56 at the time of the sale.) Supernus will use the proceeds to fund separate but related hedge and warrant transactions and to acquire or partner with other similar companies.
Deal Industry
- Biotechnology
- Pharmaceuticals
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Pharmaceuticals
-
Drug Delivery
- Controlled Release
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Drug Delivery
Deal Status
- Final
Deal Type
-
Financing
- Convertible Debt
- Private Placement
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Supernus nets $391.3mm through convertible debt sale
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