Santhera Announces Settlement of Convertible Bond Exchange Offer on May 4, 2021
Pratteln, Switzerland, May 3, 2021 – Santhera Pharmaceuticals (SIX: SANN) announces that the Exchange Offer announced on March 25, 2021, in respect of its CHF 60 Million Convertible Bonds, will be settled on May 4, 2021.
By Notice of Repurchase Offer dated March 25, 2021 (the Notice), Santhera Pharmaceuticals Holding AG announced an offer to exchange its outstanding CHF 60 million 5% Convertible Bonds due 2022 (the 2017/22 Bonds) on the terms set out in the Notice (the Exchange Offer). The Exchange Offer was accepted by bondholders with respect to 2017/22 Bonds with an aggregate principal amount of CHF 44,845,000, corresponding to 74.7% of all 2017/22 Bonds in circulation.
Holders of 2017/22 Bonds which have not accepted the Exchange Offer will remain bondholders under the terms of the 2017/22 Bonds.
The Company will announce the conversion price on May 4, 2021. Voting by bondholders on the restructuring of the 2017/22 Bonds that had been proposed to the bondholders’ meeting of March 8, 2021, is now closed and did not reach a two thirds majority.
Stifel Nicolaus Europe Limited is serving as sole financial advisor to the Company.
Preliminary Issuance and Listing Prospectus Regarding the New Bonds: https://www.santhera.com/investors-and-media/investor-toolbox/bond-exchange-offering
Santhera Pharmaceuticals (SIX: SANN) is a Swiss specialty pharmaceutical company focused on the development and commercialization of innovative medicines for rare neuromuscular and pulmonary diseases with high unmet medical need. Santhera has an exclusive license for all indications worldwide to vamorolone, a first-in-class dissociative steroid with novel mode of action, currently investigated in a pivotal study in patients with DMD as an alternative to standard corticosteroids. The clinical stage pipeline also includes lonodelestat (POL6014) to treat cystic fibrosis (CF) and other neutrophilic pulmonary diseases as well as an exploratory gene therapy approach targeting congenital muscular dystrophies. Santhera out-licensed ex-North American rights to its first approved product, Raxone® (idebenone), for the treatment of Leber's hereditary optic neuropathy (LHON) to Chiesi Group. For further informatio, please visit www.santhera.com.
Raxone® is a trademark of Santhera Pharmaceuticals.
For further information please contact:
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