Collegium calls all $26.35 million of 2.625% convertibles at par

By Mary-Katherine Stinson

Lexington, Ky., April 11 – Collegium Pharmaceutical, Inc. will redeem all $26.35 million of its 2.625% convertible senior notes due 2026 (Cusip: 19459JAA2), according to an 8-K filing with the Securities and Exchange Commission.

The notes will be redeemed at par plus interest on June 14.

The redemption price is equal to $1,008.68 per $1,000 principal amount of notes.

The company’s redemption right was triggered because the last reported sale price of the company’s common stock exceeded 130% of the conversion price of the notes during the required period of time.

Bank of New York Mellon Trust Co., NA is the paying agent.

Notes called for redemption may be surrendered to the paying agent for conversion at any time before 5 p.m. ET on June 13. The company has elected to settle all note conversions between now and the conversion deadline in cash.

Collegium Pharmaceutical is a Stoughton, Mass.-based specialty pharmaceutical company.

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