Viva Biotech buys back $34.1 million more 1% convertibles due 2025

Chicago, Nov. 27 – Viva Biotech Holdings bought an additional $34.1 million of its 1% guaranteed convertible bonds due 2025 on the open market, according to a press release.

The bonds were issued in December 2020 by wholly owned subsidiary Viva Biotech Investment Management Ltd.

With the latest announcement, the company has repurchased a total of $143.4 million of the notes. Holders of the repurchased bonds had conversion rights for 95,524,831 shares of the company.

The bonds will be canceled as soon as possible.

To date, the company has repurchased 51.21% of the issued amount, leaving $136.6 million of the bonds outstanding.

Viva Biotech is a Shanghai-based pre-discovery drug discovery service provider.

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