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Post by sla55 on May 25, 2018 7:47:06 GMT -5
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Post by therealisaching on May 25, 2018 7:48:06 GMT -5
On May 25, 2018, MannKind Corporation (the “Company”) entered into a privately-negotiated exchange agreement (the “Exchange Agreement”) with certain holders of its outstanding 5.75% Convertible Senior Notes due 2021 (the “2021 notes”), pursuant to which the Company agreed to issue 2,250,000 shares of its common stock (the “Exchange Shares”) in exchange for the cancellation of $5.0 million principal amount of the 2021 notes and unpaid accrued interest thereon (the “Exchange”). The exchange price for the Exchange Shares is approximately $2.2567 per share
Full link => archive.fast-edgar.com//20180525/AO22K22DZZ2R92ZA22ZM2WXOP2NA4Z22Z2A6/ |
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Post by robbmo on May 25, 2018 7:49:01 GMT -5
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Post by kite on May 25, 2018 7:50:01 GMT -5
On May 25, 2018, MannKind Corporation (the “Company”) entered into a privately-negotiated exchange agreement (the “Exchange Agreement”) with certain holders of its outstanding 5.75% Convertible Senior Notes due 2021 (the “2021 notes”), pursuant to which the Company agreed to issue 2,250,000 shares of its common stock (the “Exchange Shares”) in exchange for the cancellation of $5.0 million principal amount of the 2021 notes and unpaid accrued interest thereon (the “Exchange”). The exchange price for the Exchange Shares is approximately $2.2567 per share
Full link => archive.fast-edgar.com//20180525/AO22K22DZZ2R92ZA22ZM2WXOP2NA4Z22Z2A6/ Translation please... |
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Post by therealisaching on May 25, 2018 7:54:26 GMT -5
Seems interesting they agreed to a price at a premium to yesterday's close. That hasn't been the case in the prior restructuring deals. |
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Post by therealisaching on May 25, 2018 7:56:00 GMT -5
Kite - they removed part of an existing debt obligation of $5MM by issuing shares. Further cleans up the balance sheet.
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Post by mike0475 on May 25, 2018 8:01:01 GMT -5
Seems interesting they agreed to a price at a premium to yesterday's close. That hasn't been the case in the prior restructuring deals. At a premium finally.. stats/ada info levering the price? Sounds like a good deal saving on interest from notes too |
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Post by liane on May 25, 2018 8:02:14 GMT -5
I've just combined about 3 threads into 1. sla beat you all to it (big surprise) - so she gets ownership of the thread.
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Post by peppy on May 25, 2018 8:02:46 GMT -5
On May 25, 2018, MannKind Corporation (the “Company”) entered into a privately-negotiated exchange agreement (the “Exchange Agreement”) with certain holders of its outstanding 5.75% Convertible Senior Notes due 2021 (the “2021 notes”), pursuant to which the Company agreed to issue 2,250,000 shares of its common stock (the “Exchange Shares”) in exchange for the cancellation of $5.0 million principal amount of the 2021 notes and unpaid accrued interest thereon (the “Exchange”). The exchange price for the Exchange Shares is approximately $2.2567 per share
Full link => archive.fast-edgar.com//20180525/AO22K22DZZ2R92ZA22ZM2WXOP2NA4Z22Z2A6/ That last agreement, share price followed the agreement price. (?) |
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Post by cjm18 on May 25, 2018 8:04:56 GMT -5
But why? This wasn’t due for years. This does lower interest expense.
It’s a premium Bc it wasn’t due for years.
I guess this was deerfield. Maybe they will waive lower the 25m threshold.
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Post by boca1girl on May 25, 2018 8:13:48 GMT -5
But why? This wasn’t due for years. This does lower interest expense. It’s a premium Bc it wasn’t due for years. Maybe the debt holder expects a large increase in share price in the near future. |
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Post by winstonsmith on May 25, 2018 8:18:47 GMT -5
WHY trade shares at these low prices if the debt isn't due for 3 years from now???
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Post by cjm18 on May 25, 2018 8:21:26 GMT -5
WHY trade shares at these low prices if the debt isn't due for 3 years from now??? Cleaning up the balance sheet might make it easier to get $ from the institutions mike mentioned. |
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Post by barnstormer on May 25, 2018 8:27:11 GMT -5
$5 mil won't do much to clean up the balance sheet. There has to be another reason. Perhaps a potential partner wants fewer players in the game.
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Post by #NoMoreNeedles on May 25, 2018 8:38:18 GMT -5
Go figure, with all those Firm 4 filings! Completely obvious what’s coming!
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