Chattem, Inc. Commences Tender Offer For All Of Its Outstanding 2.00% Convertible Senior Notes Due 2013 And 1.625% Convertible Senior Notes Due 2014
Chattem, Inc. (NASDAQ: CHTT) (“Chattem”) announced that it has commenced a tender offer (the “Tender Offer”) to repurchase all of its outstanding 2.00% convertible senior notes due 2013 (the “2.00% Notes”) and its outstanding 1.625% convertible senior notes due 2014 (the “1.625% Notes” and collectively, the “Notes”). Chattem is offering to repurchase up to $8.0 million of the 2.00% Notes and up to $38.3 million of the 1.625% Notes, each at par plus accrued and unpaid interest, which amounts reflect the aggregate principal amount outstanding of the Notes on the commencement date of the Tender Offer. Tenders of the Notes must be made prior to the expiration of the Tender Offer and may be withdrawn at any time prior to the expiration of the Tender Offer.
The Tender Offer began today, February 25, 2010, and will expire at 5:00 p.m., New York City time, on March 25, 2010. Upon the terms and subject to the conditions of the Tender Offer, Chattem’s noteholders will have the opportunity to tender all of their Notes, at par plus accrued and unpaid interest.
None of Chattem, its board of directors or U.S. Bank National Association, the trustee, paying agent and conversion agent for the Tender Offer, is making any recommendations to noteholders as to whether to tender or refrain from tendering their Notes in the Tender Offer. Noteholders must decide how many Notes they will tender, if any. The terms and conditions of the Tender Offer will be described in each of the offers to repurchase (the “Offers to Repurchase”) and related materials to be distributed to holders of the Notes.
The trustee, paying agent and conversion agent for the tender offer is U.S. Bank National Association. The Offers to Repurchase and related documents will be mailed shortly to noteholders of record and also will be made available for distribution to beneficial owners of the Notes. For questions and information, please call the trustee toll-free at (800) 934-6802.
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