Viva Biotech buys back $29.9 million of 2.5% convertibles due 2025

Chicago, Nov. 28 – Viva Biotech Holdings repurchased on the open market and will cancel $29.9 million of the 2.5% guaranteed convertible bonds due 2025, according to a notice.

Originally, the issue size was $180 million.

The bonds were issued by subsidiary Viva Incubator Investment Management Ltd.

Bondholders have exercised their right to convert $143.5 million of the bonds prior to the most recent announcement.

After the repurchased notes are canceled, there will be $6.6 million of the bonds outstanding.

Viva Biotech is a Shanghai-based pre-discovery drug discovery service provider.

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