Brief: Lannett Emerges From Chapter 11 As It Remains On Track Toward Commercialization Of Pipeline

Lannett

16/06/2023 23:16

June 16 (Reuters) - Lannett Company Inc  LCINQ.PK :
    * LANNETT SUCCESSFULLY EMERGES FROM CHAPTER 11 IN
SIGNIFICANTLY
STRONGER FINANCIAL POSITION AS THE COMPANY REMAINS ON TRACK
TOWARD COMMERCIALIZATION OF HIGHLY PROMISING PIPELINE
    * LANNETT COMPANY INC - TRANSACTION REDUCES COMPANY'S DEBT
BY
APPROXIMATELY $600 MILLION
    * LANNETT COMPANY INC - TRANSACTION REDUCES COMPANY'S DEBT
BY
APPROXIMATELY $600 MILLION
    * LANNETT COMPANY INC - EMERGES AS A PRIVATE COMPANY WITH
NEW
BOARD OF DIRECTORS
    * LANNETT COMPANY INC - PLAN OF REORGANIZATION SUPPORTED BY
ALL
MAJOR CREDITOR CONSTITUENCIES
    * LANNETT COMPANY INC- WILL NOW OPERATE AS A PRIVATELY-HELD
COMPANY UNDER OWNERSHIP OF ITS PREPETITION LENDERS
    * LANNETT COMPANY - ENTERED INTO CREDIT AGREEMENT FOR NEW
REVOLVING CREDIT FACILITY TO SUPPORT POST-EMERGENCE LIQUIDITY
AND INVEST IN FUTURE GROWTH
    * LANNETT COMPANY INC- CHIEF EXECUTIVE OFFICER TIM CREW, WHO
CONTINUES AS A COMPANY BOARD MEMBER, WILL BE JOINED BY JEFFREY
D. GOLDBERG, JASON SHANDELL
    * LANNETT COMPANY INC- COMPILATION OF COMPANY'S BLA FOR
INSULIN
GLARGINE WILL BE ESSENTIALLY COMPLETE IN JULY AND READY FOR
FILING

Source text for Eikon:  ID:nBwFsylca 
Further company coverage:  LCINQ.PK 

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