Offering also includes five-year warrants for 337,500 common shares
By Devika Patel
Knoxville, Tenn., July 7 – Retrophin, Inc. settled a $45 million credit agreement on June 30, according to an 8-K filed Monday with the Securities and Exchange Commission. U.S. Bank NA was the agent.
The credit agreement will be due on June 30, 2018 and accrues interest at a variable rate of Libor plus 1,000 basis points.
Investors also received warrants for 337,500 common shares, exercisable at $12.7552 for five years. The strike price is a 6.21% premium to the June 27 closing share price of $12.01.
The biopharmaceutical company is based in New York.
| Issuer: | Retrophin, Inc.
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| Issue: | Credit agreement
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| Amount: | $45 million
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| Maturity: | June 30, 2018
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| Coupon: | Libor plus 1,000 bps
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| Warrants: | For 337,500 shares
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| Warrant expiration: | Five years
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| Warrant strike price: | $12.7552
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| Agent: | U.S. Bank NA
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| Settlement date: | June 30
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| Stock symbol: | Nasdaq: RTRX
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| Stock price: | $12.01 at close June 27
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| Market capitalization: | $288.18 million
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