ANI Pharmaceuticals announces proposed convertible senior notes offering

ANI Pharmaceuticals announced its intention to offer, subject to market and other conditions, $250,000,000 aggregate principal amount of convertible senior notes due 2029 in a private offering to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended. ANI also expects to grant the initial purchasers of the notes an option to purchase, for settlement within a period of 13 days from, and including, the date the notes are first issued, up to an additional $37,500,000 principal amount of notes. The notes will be senior, unsecured obligations of ANI, will accrue interest payable semi-annually in arrears and will mature on September 1, 2029, unless earlier repurchased, redeemed or converted. Noteholders will have the right to convert their notes in certain circumstances and during specified periods. ANI will settle conversions in cash and, if applicable, shares of its common stock.