First Horizon greenshoe exercised, raising convertibles to $150 million

New York, March 19 - First Horizon Pharmaceutical Corp. said the underwriters of its recent offering of senior subordinated contingent convertible notes due 2024 exercised the $25 million over-allotment option in full, raising the size of the deal to $150 million.

The Alpharetta, Ga., specialty pharmaceutical company originally priced $125 million of the securities after the market closed on March 2 to yield 1.75% with a 35% initial conversion premium.

Deutsche Bank Securities and UBS Investment Bank were joint bookrunners for the Rule 144A offering.

First Horizon will use proceeds for future acquisitions of products, technologies and businesses and for general corporate purposes.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.