ANI plans $340 million credit facilities with Novitium purchase

By Sara Rosenberg

New York, March 9 – ANI Pharmaceuticals Inc. has received a commitment for $340 million of credit facilities to help fund its acquisition of Novitium Pharma and refinance its existing senior credit facilities, according to a news release.

Truist Securities is the lead on the deal.

The facilities consist of a $40 million revolver and a $300 million term loan B.

Other funds for the transaction will come from a $25 million PIPE investment by Ampersand Capital Partners.

Novitium, an East Windsor, N.J.-based pharmaceutical company, is being purchased for $89.5 million in cash and $74 million in equity, plus two potential future cash earn-outs of up to $46.5 million.

Closing is expected in the second half of this year, subject to regulatory approvals and approval by ANI shareholders.

ANI is a Baudette, Minn.-based specialty pharmaceutical company developing, manufacturing, and marketing branded and generic prescription pharmaceuticals.

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