MannKind extends maturity date of $350 million note by three months

By Marisa Wong

Madison, Wis., May 9 - MannKind Corp. amended its promissory note with the Mann Group LLC, extending the maturity date of the $350 million loan arrangement to July 1, 2013 from March 31, 2013, according to an 8-K filing with the Securities and Exchange Commission.

The company previously extended the amended and restated note to March 31, 2013 from June 30, 2012.

According to the filing, the company can continue to borrow under the amended terms of the loan agreement until June 30.

During the first quarter of 2012, the company borrowed $6.3 million. The remaining available amount under the note is $38.8 million.

MannKind is a Valencia, Calif.-based biopharmaceutical company. Mann Group is an entity controlled by MannKind's chief executive officer and principal stockholder, Alfred E. Mann.

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