Sep. 25, 2009 (PR Newswire) --
CHADDS FORD, Pa., Sept. 25 /PRNewswire-FirstCall/ -- Endo Pharmaceuticals (Nasdaq: ENDP) announced today the expiration and final results of a cash tender offer by its wholly-owned subsidiary, Endo Pharmaceuticals Solutions Inc., for any and all outstanding Ledgemont PhaRMA(SM) Secured 16% Notes due 2024 (the "Notes") of Ledgemont Royalty Sub LLC, Endo Pharmaceuticals Solutions Inc.'s wholly-owned subsidiary. The tender offer expired on September 24, 2009, at 5:00 p.m., New York City time (the "Expiration Time").
As of the Expiration Time, $48,000,000 aggregate principal amount of Notes had been validly tendered and not withdrawn, of which the entire amount had been validly tendered and not withdrawn as of 5:00 p.m., New York City time, on September 9, 2009, the early tender deadline. The aggregate principal amount of Notes that Endo Pharmaceuticals Solutions Inc. accepted for purchase represents approximately 46% of the $105,000,000 aggregate principal amount of Notes that were outstanding prior to the Expiration Time.
In accordance with the terms and conditions of the tender offer, as more fully described in the Offer to Purchase, dated August 26, 2009, Endo Pharmaceuticals Solutions Inc. expects to accept Notes for payment at a purchase price of $1,000 per $1,000 principal amount, for a total amount of approximately $48,000,000 (excluding accrued and unpaid interest up to, but not including, the payment date for the Notes, fees and other expenses in connection with the tender offer).
Endo Pharmaceuticals Solutions Inc. has retained Morgan Stanley & Co. Incorporated to serve as Dealer Manager for the tender offer. U.S. Bank National Association has been retained to serve as the Depositary for the tender offer.
This press release is for informational purposes only and is neither an offer to buy nor the solicitation of an offer to sell any securities.
About Endo
Endo Pharmaceuticals is a specialty pharmaceutical company engaged in the research, development, sale and marketing of branded and generic prescription pharmaceuticals used to treat and manage pain, overactive bladder, prostate cancer and the early onset of puberty in children, or central precocious puberty (CPP).
