K-V Pharmaceutical Secures Commitment For $85 Million Loan, Reaches Agreement With Senior Noteholders On Principal Terms Of Plan Of Reorganization
Willkie Farr & Gallagher LLP serves as bankruptcy counsel to K-V, and Jefferies & Co., Inc. as financial advisor and investment banker.
Updates and additional information can be found at the Company's website www.kvph.com. In addition, the Company's Claims Administrator, Epiq Bankruptcy Solutions, Inc., maintains a web-based resource where documents from the Chapter 11 cases, including the Company's Petitions, can be found, http://dm.epiq11.com/KVD.
About K-V Pharmaceutical CompanyK-V Pharmaceutical Company is a specialty branded pharmaceutical company with a primary focus in the area of women's healthcare. As such, we are committed to advancing the health of women across all the stages of their lives.
For further information about K-V Pharmaceutical Company, please visit the Company's corporate website at www.kvph.com .Cautionary Note Regarding Forward-Looking Statements This release contains various forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995 (the "PSLRA") and which may be based on or include assumptions concerning our operations, future results and prospects. Such statements may be identified by the use of words like "plan," "expect," "aim," "believe," "project," "anticipate," "commit," "intend," "estimate," "will," "should," "could," "potential" and other expressions that indicate future events and trends. All statements that address expectations or projections about the future, including, without limitation, statements about product launches, governmental and regulatory actions and proceedings, market position, revenues, expenditures and the impact of recalls and suspensions of shipments on revenues, adjustments to the financial statements, the filing of amended filings with the Securities and Exchange Commission ("SEC") and other financial results, are forward-looking statements. All forward-looking statements are based on current expectations and are subject to risk and uncertainties. In connection with the PSLRA's "safe harbor" provisions, we provide the following cautionary statements identifying important economic, competitive, political, regulatory and technological factors, among others, that could cause actual results or events to differ materially from those set forth or implied by the forward-looking statements and related assumptions. Such factors include (but are not limited to): (1) the ability of the Company and its subsidiaries to continue as a going concern; (2) the risk that the Bankruptcy Court will not approve the Hologic Settlement; (3) the risk that the Bankruptcy Court will not approve the Company's entry into the currently proposed DIP financing facility, which is required to fund the Hologic Settlement ; (4) the ability of the Company and its subsidiaries to obtain Bankruptcy Court approval with respect to other motions in the Chapter 11 cases; (5) the ability of the Company and its subsidiaries to prosecute, develop and consummate one or more plans of reorganization with respect to the Chapter 11 cases; (6) the effects of the bankruptcy filing on the Company and its subsidiaries and the interests of various creditors, equity holders and other constituents; (7) the effects of rulings of the Bankruptcy Court in the Chapter 11 cases and the outcome of the cases in general; (8) the length of time the Company and its subsidiaries will operate under the Chapter 11 cases; (9) risks associated with third-party motions in the Chapter 11 cases, which may interfere with the ability of the Company and its subsidiaries to develop one or more plans of reorganization and consummate such plans once they are developed; (10) the potential adverse effects of the Chapter 11 proceedings on the Company's liquidity or results of operations; (11) the ability to execute the Company's business and restructuring plans; (12) increased legal costs related to the Company's bankruptcy filing and other litigation; (13) that its Class A Common Stock and Class B Common Stock will be, or will continue to be, traded on the OTCQB Marketplace and whether sufficient volumes and liquidity will develop; and (14) the ability of the Company and its subsidiaries to maintain contracts that are critical to their operation, including to obtain and maintain normal terms with their vendors, customers and service providers and to retain key executives, managers and employees.
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