Post by dnr08 on May 7, 2021 13:03:08 GMT
www.opko.com/investors/sec-filings/all-sec-filings/content/0000944809-21-000035/0000944809-21-000035.pdf
ITEM 3.02. Unregistered Sales of Equity Securities.
On May 6, 2021, OPKO Health Inc., a Delaware corporation (the “Company”), entered into exchange agreements (the “Exchange Agreements” and each an “Exchange Agreement”) with certain noteholders (the “Noteholders”) of the Company’s 4.50% Convertible Senior Notes due 2025 (the “2025 Notes”), pursuant to which the Noteholders have agreed to exchange (the “Exchange”) $55.42 million in aggregate principal amount of the Company’s outstanding 2025 Notes (the “Exchanged Notes”) for shares of the Company’s common stock, par value $0.01 per share (“Common Stock”). Pursuant to the Exchange Agreements, the number of shares of Common Stock to be issued by the Company to the Noteholders upon consummation of the Exchange (the “Offered Shares”) will be determined based upon a volume-weighted-average-price per share of Common Stock, subject to a floor of $3.50 per share, during a four-trading-day averaging period, commencing on the trading day immediately following the date of each Exchange Agreement. The Company has agreed to pay the Noteholders accrued and unpaid interest on the Exchanged Notes in cash. The offer and sale of the Offered Shares is being made pursuant to Section 3(a)(9) of the Securities Act of 1933, as amended, as the Exchange is being effected between the Company and existing security holders, and no commission or other remuneration is being paid or given directly or indirectly for soliciting the Exchange.
The foregoing description of the Exchange Agreements is only a summary and is qualified in its entirety by reference to the full text of the form of Exchange Agreement, which is filed as Exhibit 10.1 to this Current Report on Form 8-K and incorporated by reference in Item 1.01 and Item 3.02.
ITEM 8.01. Other Events.
As previously reported, in connection with the Company’s original issuance of its $200.0 million aggregate principal amount of the 2025 Notes, the Company entered into a share lending agreement, dated as of February 4, 2019 (the “Share Lending Agreement”), together with Jefferies Capital Services, LLC (the “Share Borrower”), under which the Company agreed to lend to the Share Borrower up to 30.0 million shares of Common Stock. As previously reported, on February 7, 2019, the Company issued 29.25 million shares of Common Stock and loaned them to the Share Borrower under the Share Lending Agreement. The Company currently expects that, upon consummation of the Exchange, there will be a pro rata reduction in the outstanding borrowed shares of Common Stock.
ITEM 3.02. Unregistered Sales of Equity Securities.
On May 6, 2021, OPKO Health Inc., a Delaware corporation (the “Company”), entered into exchange agreements (the “Exchange Agreements” and each an “Exchange Agreement”) with certain noteholders (the “Noteholders”) of the Company’s 4.50% Convertible Senior Notes due 2025 (the “2025 Notes”), pursuant to which the Noteholders have agreed to exchange (the “Exchange”) $55.42 million in aggregate principal amount of the Company’s outstanding 2025 Notes (the “Exchanged Notes”) for shares of the Company’s common stock, par value $0.01 per share (“Common Stock”). Pursuant to the Exchange Agreements, the number of shares of Common Stock to be issued by the Company to the Noteholders upon consummation of the Exchange (the “Offered Shares”) will be determined based upon a volume-weighted-average-price per share of Common Stock, subject to a floor of $3.50 per share, during a four-trading-day averaging period, commencing on the trading day immediately following the date of each Exchange Agreement. The Company has agreed to pay the Noteholders accrued and unpaid interest on the Exchanged Notes in cash. The offer and sale of the Offered Shares is being made pursuant to Section 3(a)(9) of the Securities Act of 1933, as amended, as the Exchange is being effected between the Company and existing security holders, and no commission or other remuneration is being paid or given directly or indirectly for soliciting the Exchange.
The foregoing description of the Exchange Agreements is only a summary and is qualified in its entirety by reference to the full text of the form of Exchange Agreement, which is filed as Exhibit 10.1 to this Current Report on Form 8-K and incorporated by reference in Item 1.01 and Item 3.02.
ITEM 8.01. Other Events.
As previously reported, in connection with the Company’s original issuance of its $200.0 million aggregate principal amount of the 2025 Notes, the Company entered into a share lending agreement, dated as of February 4, 2019 (the “Share Lending Agreement”), together with Jefferies Capital Services, LLC (the “Share Borrower”), under which the Company agreed to lend to the Share Borrower up to 30.0 million shares of Common Stock. As previously reported, on February 7, 2019, the Company issued 29.25 million shares of Common Stock and loaned them to the Share Borrower under the Share Lending Agreement. The Company currently expects that, upon consummation of the Exchange, there will be a pro rata reduction in the outstanding borrowed shares of Common Stock.
