Immunomedics Announces Agreements to Exchange Approximately $80.0 Million of Its 4.75% Convertible Senior Notes Due 2020 for Common Stock
IMMUNOMEDICS (IMMU)
Last immunomedics earnings: 2/27 04:00 pm
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US:NASDAQ Investor Relations:
immunomedics.com/2017/immunomedics-announces-presentations-investor-event-2017-san-antonio-breast-cancer-symposium
Company Research
Source: GlobeNewswire
MORRIS PLAINS, N.J., Sept. 15, 2017 (GLOBE NEWSWIRE) -- Immunomedics, Inc. (NASDAQ:IMMU) (“Immunomedics” or the “Company”) today announced that it has entered into privately negotiated exchange agreements with a limited number of holders of its 4.75% Convertible Senior Notes due 2020. Pursuant to the exchange agreements, the Company will exchange approximately $80.0 million in aggregate principal amount of notes, for (i) approximately 14,100,017 newly issued shares of the Company’s common stock plus (ii) an additional number of newly issued shares of the Company’s common stock to be determined based on the volume-weighted average trading price of the common stock over the three trading days beginning on September 15, 2017. The Company anticipates that the exchanges will be completed on or about September 21, 2017. Upon completion of the exchanges, the aggregate principal amount of the Company’s 4.75% Convertible Senior Notes due 2020 is anticipated to be reduced to approximately $2
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