Latest Breaking News On - Senior convertible note - Page 1 : vimarsana.com
Share this article
Share this article
PHILADELPHIA, May 5, 2021 /PRNewswire/ -- Lannett Company, Inc. (NYSE: LCI) today reported financial results for its fiscal 2021 third quarter ended March 31, 2021.
"In recent months, we have significantly advanced a number of strategic initiatives," said Tim Crew, chief executive officer of Lannett. "In April, we successfully completed a transaction to refinance our debt, using the proceeds to retire the outstanding Term Loan B balance of approximately $540 million that was set to mature in November of next year. As a result, we have extended the maturity of our debt to 2026 from 2022, which is after several high-value pipeline assets are expected to be commercialized. Moreover, we improved our free cash flow, by approximately $50 million in the first year alone, which we plan to use, in part, to support our growth initiatives.
United-statesCanadaPhiladelphiaPennsylvaniaRobert-jaffeFlovent-diskusGlaxosmithklineLannett-companyPrnewswire-lannett-company-incSilarx-pharmaceuticals-incKremers-urban-pharmaceuticals-incExchange-commission