Corium offers to buy $120 million 5% convertibles after Gurnet buyout

By Susanna Moon

Chicago, Dec. 17 – Corium International Inc. said it is offering to purchase its $120 million of 5% convertible notes due 2025 at par.

The fundamental change repurchase is being made in connection with the acquisition of the company by Gurnet Point Capital on Nov. 27, which constitutes a fundamental change under the note terms, according to an announcement.

Holders will also receive accrued interest to but excluding the repurchase date.

The paying agent is U.S. Bank NA.

Corium is a Menlo Park, Calif.-based commercial-stage biopharmaceutical company.

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