Actionable news
All posts from Actionable news
Actionable news in MACK: Merrimack Pharmaceuticals, Inc.,

Entry into a Material Definitive

On April 13, 2016, Merrimack Pharmaceuticals, Inc. (the Company) entered into separate, privately-negotiated conversion agreements (the Conversion Agreements) with certain holders (the Holders) of the Companys 4.50% Convertible Senior Notes due 2020 (the Notes). Under the Conversion Agreements, the Holders agreed to convert an aggregate principal amount of $64,207,000 of Notes held by them. The Company will initially settle each $1,000 principal amount of Notes surrendered for conversion by delivering 136 shares of the Companys common stock. At the Initial Closing (as defined in the Conversion Agreements), the Company expects to issue an aggregate of 8,732,152 shares of its common stock. In addition, pursuant to the Conversion Agreements, at the Additional Closings (as defined in th e Conversion Agreements), the Holders of the Notes will receive a number of shares of the Companys common stock representing an aggregate of $27,696,332 as additional payments in respect of the conversion of the Notes, such number...