MannKind Corporation Announces Exchange of Convertible Notes for Stock and Cash
MannKind Corporation Announces Exchange of Convertible Notes for Stock and Cash
- Company debt reduced by $194 million
- Cash position after closing will be in excess of $180 million
- 公司債務減少了1.94億美元
- 收盤後的現金狀況將超過1.8億美元
DANBURY, Conn. and WESTLAKE VILLAGE, Calif., Dec. 18, 2024 (GLOBE NEWSWIRE) -- MannKind Corporation (Nasdaq: MNKD) today announced today that it has entered into separate, privately negotiated exchange agreements with certain holders (the "Holders") of its 2.50% Convertible Senior Notes due 2026 (the "Notes"). Under the terms of the exchange agreements, the Holders agreed to exchange an aggregate principal amount of approximately $193.7 million of Notes held by them in exchange for an aggregate of 26,749,559 shares of the Company's common stock ("Shares"). In addition, pursuant to the exchange agreements, MannKind will make an aggregate cash payment of approximately $89.2 million to the Holders for additional exchange consideration.
康涅狄格州丹伯裏和加利福尼亞州西湖村,2024年12月18日(GLOBE NEWSWIRE)——曼金德公司(納斯達克股票代碼:MNKD)今天宣佈,它已與2026年到期的2.50%可轉換優先票據(「票據」)的某些持有人(「持有人」)簽訂了單獨的私下談判交易協議。根據交換協議的條款,持有人同意交換他們持有的總額約1.937億美元的票據,以換取公司共計26,749,559股普通股(「股份」)。此外,根據交易所協議,MannKind將向持有人總共支付約8,920萬美元的現金,作爲額外的交易所對價。
The transaction is expected to close in two closings, with the first closing on or about December 20, 2024 and the second closing on or about December 23, 2024, in each case, subject to customary closing conditions.
該交易預計將在兩次收盤中完成,第一次在2024年12月20日左右收盤,第二次在2024年12月23日左右收盤,但須遵守慣例成交條件。
This repurchase decreases MannKind's total outstanding debt by 84%. In addition, there were 37.2 million shares reserved for conversion of the approximately $193.7 million principal amount of Notes, corresponding to a potential savings of approximately 10.4 million shares of dilution. This transaction is expected to help the Company to focus on its strategic priorities of delivering continued growth of its commercial business and supporting the development of its pulmonary pipeline programs.
此次回購使曼金德的未償債務總額減少了84%。此外,還有3720萬股股票預留用於轉換約1.937億美元的票據本金,相當於稀釋後可能節省的約1040萬股股票。預計該交易將幫助公司專注於其戰略優先事項,即實現商業業務的持續增長和支持其肺部管道計劃的發展。
Immediately following the exchange of the Notes contemplated by the exchange agreements, the aggregate principal amount of the Notes will be reduced from $230 million to approximately $36.3 million, and annual interest expense will be reduced by $4.9 million to approximately $0.9 million. Following the exchange of the Notes, MannKind's cash balance will be in excess of $180 million with approximately 302.5 million shares outstanding.
交換協議所考慮的票據交換後,票據的總本金額將立即從2.3億美元減少到約3,630萬美元,年度利息支出將減少490萬美元至約90萬美元。票據交換後,MannKind的現金餘額將超過1.8億美元,已發行股票約爲30250萬股。
The shares of MannKind's common stock being issued have not been, and will not be, registered under the Securities Act of 1933 or any state securities laws and may not be offered or sold in the United States absent registration or an applicable exemption from (or in a transaction not subject to) registration requirements. This press release shall not constitute an offer to sell or a solicitation of an offer to buy MannKind's common stock or any other securities and will not constitute an offer, solicitation, or sale in any state or jurisdiction in which such an offer, solicitation, or sale would be unlawful.
MannKind發行的普通股過去和將來都不會根據1933年《證券法》或任何州證券法進行註冊,如果沒有註冊或適用的豁免(或在不受註冊要求約束的交易中),則不得在美國發行或出售。本新聞稿不構成出售要約或招攬購買MannKind普通股或任何其他證券的要約,也不構成在任何州或司法管轄區的要約、招攬或出售,在任何此類要約、招攬或出售爲非法的州或司法管轄區。
About MannKind
MannKind Corporation (Nasdaq: MNKD) focuses on the development and commercialization of innovative inhaled therapeutic products and devices to address serious unmet medical needs for those living with endocrine and orphan lung diseases.
關於 MannKind
MannKind Corporation(納斯達克股票代碼:MNKD)專注於創新的吸入治療產品和設備的開發和商業化,以解決內分泌和孤兒肺病患者嚴重未得到滿足的醫療需求。
We are committed to using our formulation capabilities and device engineering prowess to lessen the burden of diseases such as diabetes, nontuberculous mycobacterial (NTM) lung disease, pulmonary fibrosis, and pulmonary hypertension. Our signature technologies – dry-powder formulations and inhalation devices – offer rapid and convenient delivery of medicines to the deep lung where they can exert an effect locally or enter the systemic circulation, depending on the target indication.
我們致力於利用我們的配方能力和設備工程實力來減輕糖尿病、非結核分枝桿菌 (NTM) 肺病、肺纖維化和肺動脈高壓等疾病的負擔。我們的標誌性技術——乾粉配方和吸入設備——可以快速、方便地將藥物輸送到深肺,根據靶向適應症,藥物可以在局部發揮作用或進入全身循環。
With a passionate team of Mannitarians collaborating nationwide, we are on a mission to give people control of their health and the freedom to live life.
我們的使命是讓人們控制自己的健康和自由地生活,與一支充滿激情的 Mannitarians 團隊在全國範圍內合作。
Please visit mannkindcorp.com to learn more, and follow us on LinkedIn, Facebook, X or Instagram.
請訪問 mannkindcorp.com 了解更多信息,並在 LinkedIn、Facebook、X 或 Instagram 上關注我們。
Forward-Looking Statements
前瞻性陳述
Statements in this press release that are not statements of historical fact are forward-looking statements that involve risks and uncertainties. These statements include, without limitation, statements regarding closing of the transaction, and timing thereof, MannKind's financial position, including cash position and interest expense, savings in potential shareholder dilution related to the exchange of convertible notes and potential operating benefits from reduced debt. Words such as "believes," "anticipates," "plans," "expects," "intend," "will," "goal," "potential" and similar expressions are intended to identify forward-looking statements. These forward-looking statements are based upon MannKind's current expectations. Actual results and the timing of events could differ materially from those anticipated in such forward-looking statements as a result of various risks and uncertainties, which include, without limitation, risks detailed in MannKind's filings with the Securities and Exchange Commission ("SEC"), including under the "Risk Factors" heading of its Annual Report on Form 10-K for the year ended December 31, 2023, filed with the SEC on February 27, 2024, and subsequent periodic reports on Form 10-Q. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. All forward-looking statements are qualified in their entirety by this cautionary statement, and MannKind undertakes no obligation to revise or update any forward-looking statements to reflect events or circumstances after the date of this press release.
本新聞稿中非歷史事實陳述的陳述均爲前瞻性陳述,涉及風險和不確定性。這些報表包括但不限於有關交易完成及其時間安排的聲明、MannKind的財務狀況,包括現金狀況和利息支出、與可轉換票據交換相關的潛在股東稀釋節餘以及減少債務帶來的潛在運營收益。諸如 「相信」、「預期」、「計劃」、「期望」、「打算」、「將」、「目標」、「潛力」 等詞語以及類似的表述旨在識別前瞻性陳述。這些前瞻性陳述基於MannKind當前的預期。由於各種風險和不確定性,實際業績和事件發生時間可能與此類前瞻性陳述中的預期存在重大差異,其中包括但不限於MannKind向美國證券交易委員會(「SEC」)提交的文件中詳述的風險,包括其於2024年2月27日向美國證券交易委員會提交的截至2023年12月31日年度的10-k表年度報告的 「風險因素」 標題下的風險,以及隨後在10-Form 10上提交的定期報告 Q。提醒您不要過分依賴這些前瞻性陳述,這些陳述僅代表截至本新聞稿發佈之日。所有前瞻性陳述均受本警示聲明的全部限制,MannKind沒有義務修改或更新任何前瞻性陳述以反映本新聞稿發佈之日之後的事件或情況。
MANNKIND is a registered trademark of MannKind Corporation.
MANNKIND 是 MannKind 公司的註冊商標。
MannKind Contacts:
Investor Relations
Ana Kapor
(818) 661-5000
Email: ir@mnkd.com
Media Relations
Christie Iacangelo
(818) 292-3500
Email: media@mnkd.com
MannKind 聯繫方式:
投資者關係
安娜·卡波爾
(818) 661-5000
電子郵件:ir@mnkd.com
媒體關係
克里斯蒂·伊坎傑洛
(818) 292-3500
電子郵件:media@mnkd.com
Source: MannKind
資料來源:MannKind