Esperion enters CVR agreement tied to merger, offering up to USD 100 million milestone payout
ESPR•CVR agreement tied to merger
Esperion Therapeutics entered a contingent value rights agreement tied to its merger, offering up to USD 100 million in aggregate milestone-based cash payments.
Each CVR provides a contractual right to contingent cash payments and is non-transferable except in limited cases.
Convertible notes conversion terms reset
A supplemental indenture resets conversion terms for Esperion’s 5.75% Convertible Senior Subordinated Notes due 2030 following the merger.
Post-closing, each USD 1,000 principal converts into USD 1,032.68 cash and 326.80 CVRs; no fractional CVRs will be issued.
Conversion tied to the make-whole fundamental change pays USD 1,232.62 cash and 390.07 CVRs per USD 1,000 principal.
