Supernus adjusts cap on shares issuable upon conversion of 7.5% notes

By Marisa Wong

Madison, Wis., Oct. 24 - Supernus Pharmaceuticals, Inc. amended the indenture governing its 7.5% convertible senior secured notes due 2019 to provide that the maximum number of shares it will deliver in connection with a conversion, including shares delivered as an interest make-whole amount, will not exceed 221.7294 per $1,000 principal amount of notes, according to an 8-K filing with the Securities and Exchange Commission.

The maximum number of shares was increased from 188.7059 shares.

Supernus entered into a supplemental indenture with U.S. Bank NA as trustee and collateral agent on Thursday.

The supplemental indenture conforms the notes indenture dated May 3, 2013 to an offering memorandum dated April 25, 2013.

Supernus is a Rockville, Md.-based specialty pharmaceutical company focusing on treatment of central nervous system disorders.

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