Assertio slides on convertible debt deal

Assertio Holdings

22/08/2022 21:19

** Assertio Holdings Inc's  ASRT.O  shares falling ~20% in
extended trading as drugmaker looks to raise capital
    ** Co says offering privately $60 mln convertible bonds
(CBs) due 2027  urn:newsml:reuters.com:*:nGNX9yfqfK
    ** Co to use net proceeds to redeem its 13% CBs due 2024
    ** Earlier this month, co reported Q2 sales increased 40%
yr/yr to $35 mln on higher demand for its bacterial infection
drug, Indocin  urn:newsml:reuters.com:*:nGNX7L7JXK
    ** ASRT finished Mon session up 4.9% at $3.64 for market
value of ~$175 mln, per Refinitiv data
    ** Stock has gained 67% YTD and ~300% over past 12 months

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper@thomsonreuters.com
lance.tupper@tr.com 1-332-219-1430))