VIVUS Announces Updated Agreement with Icahn Enterprises Holdings L.P.
VIVUS (VVUS)
Last vivus earnings: 3/3 04:05 pm
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US:NASDAQ Investor Relations:
ir.vivus.com/node/5806
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Source: GlobeNewswire
CAMPBELL, Calif., June 02, 2020 (GLOBE NEWSWIRE) -- VIVUS, Inc. (Nasdaq: VVUS; the “Company”), a biopharmaceutical company, today announced that it has updated its agreement regarding its corporate debt with Icahn Enterprises Holdings L.P. (dba IEH Biopharma LLC), which holds a principal amount of approximately $170.2 million of the Company’s Convertible Senior Notes. Under the terms of the agreement, the Company will continue to work with IEH Biopharma on an exclusive basis in respect of any restructuring, financing or other material transaction concerning the Company or its assets, with the exception that the Company is granted a 30-day period to refinance and pay in full in cash all amounts due and owing under the Convertible Senior Notes to IEH Biopharma. If the Company is unable to refinance on or before June 30, 2020, the Company and IEH Biopharma shall exclusively pursue an in court plan of reorganization. In the event certain conditions are satisfied under the plan of r
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