Correction: Global Hunter Securities is left bookrunner for Mannkind discount notes offering

By Paul A. Harris

Portland, Ore., Sept. 23 - Global Hunter Securities is the left bookrunner for Mannkind Corp.'s $370 million offering of six-year senior discount notes, according to an informed source.

Knight Capital Group, the joint bookrunner, was the only syndicate name that appeared in the Sept. 26 edition of the Prospect News High Yield Daily.

An investor roadshow for the Rule 144A and Regulation S deal began on Monday.

The Rule 144A and Regulation S notes come with three years of call protection and feature a 101% poison put.

The Valencia, Calif.-based biopharmaceutical company plans to use the proceeds for development and operating capital. This includes completion of the phase 3 clinical trials and commercialization of MannKind's lead product candidate, Afrezza, as well as the continuing build-out of MannKind's Danbury, Conn., manufacturing facility and ongoing research and development. Other proceeds will be used for general corporate purposes.

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