Acorda Therapeutics, Inc. (Nasdaq: ACOR) today announced its intention to offer, subject to market and other conditions, $300 million principal amount of convertible senior notes due 2021 (the "Notes") pursuant to an effective shelf registration statement filed with the Securities and Exchange Commission ("SEC") today. Acorda also intends to grant the underwriter an option to purchase up to an additional $45 million principal amount of Notes to cover over-allotments, if any.
Acorda intends to use the net proceeds from this offering for general corporate purposes, including to fund possible acquisitions of, or investments in, complementary businesses, products and technologies. Acorda has not entered into any agreements or commitments with respect to any acquisitions or investments at this time.
J.P. Morgan Securities LLC is acting as the sole book-running manager for the Notes offering.
This press release will not constitute an offer to sell or a solicitation of an offer to buy any securities nor will there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state. The issuer has filed registration statements with the SEC for the offerings to which this communication relates. The offering of Notes will be made only by means of a prospectus and the offering of common stock will be made only by means of a base prospectus and the related prospectus supplement and, in each case, any issuer free writing prospectus that we may authorize in connection therewith. Before you invest, you should read these documents and any other document Acorda has filed with the SEC and incorporated therein for more complete information about Acorda and the respective offerings. You may retrieve these documents for free by visiting EDGAR on the SEC Website at http://www.sec.gov.Alternatively, copies of the offering documents can be obtained by contacting J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717 or by calling 1-866-803-9204.