Business
Collegium Announces Closing of the Nucynta Franchise Acquisition
– Collegium Announces Closing of Convertible Senior Notes Offering and Exercise in Full of Over-Allotment Option – – Collegium will Host Conference Call to
About this update from Collegium Pharmaceutical, Inc.
[{"type":"text","content":"– Collegium Announces Closing of Convertible Senior Notes Offering and Exercise in Full of Over-Allotment Option –\n – Collegium will Host Conference Call to Discuss Fourth Quarter 2019 Financial Results and Provide Corporate Update – STOUGHTON, Mass., Feb. 13, 2020 (GLOBE NEWSWIRE) -- Collegium Pharmaceutical, Inc. (Nasdaq: COLL), a specialty pharmaceutical company committed to being the leader in responsible pain management, announced today the closing of its previously announced acquisition of the Nucynta franchise from Assertio Therapeutics, Inc. Jefferies LLC acted as financial advisor to Collegium on the transaction, and Pepper Hamilton LLP served as legal counsel. In support of the Nucynta acquisition, Collegium also announced today the funding of its previously announced $200.0 million senior secured term loan from BioPharma Credit PLC (“loan”) and the closing of its previously announced underwritten public offering of $143.75 million aggregate principal amount of 2.625% convertible senior notes due 2026 (“notes”), which includes the full exercise by the underwriter of an option to purchase an additional $18.75 million in aggregate principal amount of notes to cover over-allotments. Jefferies LLC acted as the sole book-running manager for the offering. The aggregate proceeds of the loan and the notes were used, together with cash on hand, to pay the purchase price for the Nucynta acquisition. “We are excited to close the Nucynta acquisition, a financially transformative transaction for Collegium,” said Joe Ciaffoni, President and Chief Executive Officer of Collegium. “Looking ahead, we expect this transaction will significantly grow EBITDA and operating cash flows, and the financing structure will enable us to pursue future business development transactions that will diversify our portfolio.” 2019 Year-End Earnings Call Collegium announced today that the Company will host a conference call and live audio webcast on Thursday, February 27, 2020 at 4:30 p.m. Eastern Time to discuss financial results and provide a corporate update. To access the conference call, please dial (888) 698-6931 (U.S.) or (805) 905-2993 (International) and refer to Conference ID: 829-8360. An audio webcast will be accessible from the Investors section of the Company’s website: www.collegiumpharma.com. The webcast will be available for replay on the...