First Horizon Pharmaceutical (NASDAQ:FHRX)
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From Jun 2019 to Jun 2024
First Horizon Pharmaceutical Corporation (Nasdaq:FHRX),
a specialty pharmaceutical company, today announced that it is
extending its exchange offer in which it is offering to exchange New
1.75% Contingent Convertible Senior Subordinated Notes Due 2024 (the
"New Notes") for its $150,000,000 principal amount of currently
outstanding 1.75% Contingent Convertible Senior Subordinated Notes Due
2024 (the "Old Notes") and it is increasing the exchange fee to be
paid to holders validly exchanging Old Notes.
The exchange offer is being extended until 5 p.m., EDT, on May 2,
2006, unless further extended or earlier terminated by First Horizon.
The exchange offer was scheduled to expire at 5 p.m., EDT, on April
18, 2006. As of 5 p.m., EDT, on April 18, 2006, an aggregate principal
amount of $54,635,000 of the Old Notes had been tendered. Holders must
tender their Old Notes prior to the new expiration date if they wish
to participate in the exchange offer.
As consideration for exchanging the Old Notes for the New Notes,
all holders validly exchanging Old Notes (including those holders that
have already tendered their Old Notes and do not withdraw such Old
Notes prior to the expiration date) will now receive a one-time
exchange fee of $7.50 per $1,000 principal amount of the Old Notes
exchanged. The exchange fee will be payable to such holders of Old
Notes on the exchange date, which will be promptly after the
expiration date.
First Horizon today also announced that it has waived the minimum
tender condition to the exchange offer, which required a minimum of
$112.5 million in aggregate principal amount of the Old Notes to be
validly tendered prior to the expiration of the exchange offer.
The full terms of the exchange offer, a description of the New
Notes and the material differences between the New Notes and the Old
Notes and other information relating to the exchange offer and First
Horizon are set forth in the registration statement filed with the
Securities and Exchange Commission on March 10, 2006 and the related
prospectus dated March 16, 2006.
First Horizon urges investors and security holders to read its
exchange offer materials, including the prospectus, Schedule TO and
related materials, because they contain important information about
the exchange offer. Investors and security holders may obtain the
prospectus and related material through the information agent for the
exchange offer, Morrow & Co., Inc., 470 West Avenue, Stamford,
Connecticut 06902; telephone number: (203) 658-9400 or toll free (800)
662-5200 or through the dealer manager for the exchange offer, UBS
Investment Bank, 677 Washington Boulevard, Stamford, Connecticut
06901; telephone number: toll free (888) 722-9555 ext. 4210.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy nor shall there be any sale of the
securities to be issued in the exchange offer in any State in which
such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any State.
First Horizon is a specialty pharmaceutical company that markets,
develops and sells brand name prescription products for the primary
service of cardiology and women's health. First Horizon has a
portfolio that includes 15 branded products, of which eight are
actively promoted to high prescribing physicians through its recently
expanded nationwide sales force of approximately 525 sales
representatives. First Horizon's website address is www.fhrx.com, but
information contained therein is not part of this press release.