Theravance Biopharma Announces Tender Offer For Outstanding 3.25% Convertible Senior Notes Due 2023

About this update from Theravance Biopharma, Inc.

[{"type":"text","content":"DUBLIN, July 26, 2022 /PRNewswire/ -- Theravance Biopharma, Inc. (\"Theravance Biopharma\" or the \"Company\") (NASDAQ: TBPH) today announced a tender offer (the \"Offer\") to purchase any and all of its outstanding 3.25% Convertible Senior Notes due 2023 (the \"Convertible Notes\"). As of July 26, 2022, there were $230,000,000 aggregate principal amount of the Convertible Notes outstanding.\n\n \n \n \n \n \n \n\n \nUpon the terms and subject to the conditions set forth in the Company's Offer to Purchase, dated July 26, 2022 (the \"Offer to Purchase\"), the Company is offering to pay, for cash, an amount equal to $1,000 for each $1,000 of principal amount of Convertible Notes validly tendered and accepted, plus accrued and unpaid interest up to, but not including, the date of payment for the Convertible Notes accepted in the Offer. The Offer will expire at 5:00 p.m., New York City time, on August 23, 2022, or any other date and time to which the Company extends such Offer (such date and time, as it may be extended, the \"Expiration Time\"), unless earlier terminated.\nThe Offer is not conditioned on any minimum amount of Convertible Notes tendered, but is conditioned upon the satisfaction of certain customary conditions, as more fully described in the Offer to Purchase. The Company expressly reserves the right for any reason, subject to applicable law, to extend, abandon, terminate or amend the Offer. Any Convertible Notes purchased pursuant to the Offer will be cancelled, and those Convertible Notes will cease to be outstanding.\nFor Convertible Notes that have been validly tendered and not validly withdrawn at or prior to the Expiration Time and that are accepted for purchase pursuant to the Offer, settlement will occur promptly following the Expiration Time, assuming that the conditions to the Offer have been either satisfied or waived by the Company at or prior to the Expiration Date as further described in the Offer to Purchase. The Company expects to fund purchases of Convertible Notes tendered in the Offer with cash on hand.\nThe complete terms and conditions of the Offer are set forth in the Offer to Purchase that is being sent to holders of the Convertible Notes. Copies of the Offer to Purchase may be obtained from the Dealer Manager (as defined below) for the Offer by calling (888) 474-0200.\nTheravance Biopharma has ...

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