Brief: Titan Pharmaceuticals Announces Debt Settlement Agreement With Molteni And Horizon
26/10/2020 11:18
Titan Pharmaceuticals Inc TTNP.O :
* TITAN PHARMACEUTICALS ANNOUNCES DEBT SETTLEMENT AGREEMENT
WITH
MOLTENI AND HORIZON
* TITAN PHARMACEUTICALS INC - MOLTENI AND HORIZON AGREED TO
SETTLE
ABOUT $5.2 MILLION OF OUTSTANDING INDEBTEDNESS IN EXCHANGE FOR
PAYMENT BY TITAN
* TITAN PHARMACEUTICALS INC - PAYMENT BY TITAN OF TOTAL OF
$1.6
MILLION IN CASH TO HORIZON AND MOLTENI, TRANSFER OF CERTAIN
PROBUPHINE ASSETS TO MOLTENI
* TITAN PHARMACEUTICALS-UNDERAGREEMENT, TERMINATION OF CO'S
RIGHTS
TO FUTURE PAYMENTS UNDER ITS ASSET PURCHASE, SUPPLY & SUPPORT
AGREEMENT WITH MOLTENI
* TITAN PHARMACEUTICALS INC - UPON CLOSING, THERE WILL BE NO
LIENS
ON TITAN'S REMAINING ASSETS, INCLUDING ALL PRONEURA®
INTELLECTUAL PROPERTY
Source text for Eikon: ID:nPn1rycwFa
Further company coverage: TTNP.O
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