Financing ·
Ligand Pharmaceuticals Incorporated entered into a Fourth Amendment to its Credit Agreement with Citibank, N.A. as…
LGNDLigand Pharmaceuticals Inc
Ligand Pharmaceuticals Incorporated entered into a Fourth Amendment to its Credit Agreement with Citibank, N.A. as Administrative Agent to permit the issuance of $550 million in convertible senior notes due 2031 via a private placement. The amendment also adjusts the minimum Consolidated EBITDA requirements for the four consecutive fiscal quarters ending March 31, 2027, to $100,000,000 and $150,000,000 thereafter. Ligand Pharmaceuticals is a biotechnology company that provides royalty-based revenue and contract research services.