Assertio proposes offering of new convertible senior notes

Chicago, Aug. 22 – Assertio Holdings, Inc. is planning to offer $60 million of convertible senior notes due Sept. 1, 2027 in a Rule 144A transaction, according to a press release.

The company also expects to include a 13-day greenshoe for an additional $10 million of notes.

The notes would be convertible into cash, shares of the company’s common stock or a combination of the two at the issuer’s election.

Subject to a 130% hurdle, the notes would be callable for cash at par starting Sept. 8, 2025.

Proceeds will be used to redeem the 13% senior secured notes due Jan. 31, 2024 and for general corporate purposes.

Assertio is a Lake Forest, Ill.-based pharmaceutical company.

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