Acorda Therapeutics, Inc. (Nasdaq:ACOR)
today announced its intention to offer, subject to market and other
conditions, $300 million principal amount of convertible senior notes
due 2021 (the "Notes") pursuant to an effective shelf registration
statement filed with the Securities and Exchange Commission ("SEC")
today. Acorda also intends to grant the underwriter an option to
purchase up to an additional $45 million principal amount of Notes to
cover over-allotments, if any.
Acorda intends to use the net proceeds from this offering for general
corporate purposes, including to fund possible acquisitions of, or
investments in, complementary businesses, products and technologies.
Acorda has not entered into any agreements or commitments with respect
to any acquisitions or investments at this time.
J.P. Morgan Securities LLC is acting as the sole book-running manager
for the Notes offering.
This press release will not constitute an offer to sell or a
solicitation of an offer to buy any securities nor will there be any
sale of these securities in any state in which such offer, solicitation
or sale would be unlawful prior to registration or qualification under
the securities laws of such state. The issuer has filed registration
statements with the SEC for the offerings to which this communication
relates. The offering of Notes will be made only by means of a
prospectus and the offering of common stock will be made only by means
of a base prospectus and the related prospectus supplement and, in each
case, any issuer free writing prospectus that we may authorize in
connection therewith. Before you invest, you should read these documents
and any other document Acorda has filed with the SEC and incorporated
therein for more complete information about Acorda and the respective
offerings. You may retrieve these documents for free by visiting EDGAR
on the SEC Website at http://www.sec.gov.
Alternatively, copies of the offering documents can be obtained by
contacting J.P. Morgan Securities LLC, c/o Broadridge Financial
Solutions, 1155 Long Island Avenue, Edgewood, New York 11717 or by
calling 1-866-803-9204.
Forward-Looking Statements
This press release includes forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995,
including with respect to the intended use of proceeds from the Notes
offering. All statements, other than statements of historical facts,
regarding management's expectations, beliefs, goals, plans or prospects
should be considered forward-looking. These statements are subject to
risks and uncertainties that could cause actual results to differ
materially, including our ability to successfully market and sell Ampyra
in the U.S.; third party payers (including governmental agencies) may
not reimburse for the use of Ampyra or our other products at acceptable
rates or at all and may impose restrictive prior authorization
requirements that limit or block prescriptions; the risk of unfavorable
results from future studies of Ampyra or from our other research and
development programs, including Plumiaz (our trade name for Diazepam
Nasal Spray), or any other acquired or in-licensed programs; we may not
be able to complete development of, obtain regulatory approval for, or
successfully market Plumiaz or other products under development; the
occurrence of adverse safety events with our products; delays in
obtaining or failure to obtain regulatory approval of or to successfully
market Fampyra outside of the U.S. and our dependence on our
collaboration partner Biogen Idec in connection therewith; competition,
including the impact of generic competition on Zanaflex Capsules
revenues; failure to protect our intellectual property, to defend
against the intellectual property claims of others or to obtain third
party intellectual property licenses needed for the commercialization of
our products; failure to comply with regulatory requirements could
result in adverse action by regulatory agencies; and the ability to
obtain additional financing to support our operations. These and other
risks are described in greater detail in Acorda Therapeutics' filings
with the Securities & Exchange Commission. Acorda may not actually
achieve the goals or plans described in its forward-looking statements,
and investors should not place undue reliance on these statements.
Forward-looking statements made in this release are made only as of the
date hereof, and Acorda disclaims any intent or obligation to update any
forward-looking statements as a result of developments occurring after
the date of this release.
Copyright Business Wire 2014