Corsicanto forces exchange for $30 million of 3.5% notes due 2047

By Susanna Moon

Chicago, Nov. 9 – Amarin Corp. plc’s wholly owned subsidiary, Corsicanto II DAC, mandatorily exchanged $30 million of its 3.5% exchangeable senior notes due 2047 on Nov. 2.

The company issued 7,716,048 shares in exchange for the notes, with settlement on Nov. 7.

The final as-adjusted exchange rate was 257.2016 shares per $1,000 principal amount, according to an announcement.

Corsicanto gave notice of the mandatory exchange on Oct. 19. The notes were exchangeable into the company’s American Depositary Shares.

Amarin is a Dublin-based biopharmaceutical company focused on the commercialization and development of therapeutics to improve cardiovascular health.

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