Teligent Announces Conversion Rate Adjustment for its 7.0% Cash / 8.0% PIK Series B Senior Unsecured Convertible Notes Due 2023 and its 4.75% Convertible Senior Notes Due 2023
Teligent, Inc. (TLGT)
Last teligent, inc. earnings: 11/4 04:15 pm
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US:NASDAQ Investor Relations:
teligent.investorroom.com
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Source: GlobeNewswire
BUENA, N.J., June 03, 2020 (GLOBE NEWSWIRE) -- Teligent, Inc. (NASDAQ: TLGT) (“Teligent” or the “Company”), a New Jersey-based specialty generic pharmaceutical company, announced today conversion rate adjustments for the Company’s 7.0% Cash / 8.0% PIK Series B Senior Unsecured Convertible Notes Due 2023 (the “Series B Notes”) and its 4.75% Convertible Senior Notes Due 2023 (the “4.75% Notes”). The conversion rate adjustments are being made pursuant to the indentures governing the Series B Notes and 4.75% Notes as a result of the Company’s previously announced one-for-ten reverse stock split. Prior to the reverse stock split, the conversion rates were 1,388.889 shares of Common Stock per $1,000 principal amount of the Series B Notes and 224.7191 shares of Common Stock per $1,000 principal amount of the 4.75% Notes. As a result of the reverse stock split, effective immediately after the open of business on May 28, 2020, the conversion rates are 138.8897 shares of Common Stock per $1,0
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