ANI Pharmaceuticals (ANIP)

[Just the facts maam]

Dasgrunt, my understanding is that they can convert at any time (after March 31, 2015) but PPS is well below the conversion price at the present time. They would be better off getting their money back and buying shares. Unless of course a Fundamental Change occurs which trigger the "make whole" clause. This could give them more shares.

If activity from now to December 2019 raises PPS above the conversion price we might see them convert the shares leading into the sNDA filing for Corti in 2020 Q1.

Another option might be that ANIP issues another series of convertible notes and use the proceeds to retire the notes expiring December 2019.

Ironically if Corti sNDA were filed prior to the expiration date, conversion would be a nonstarter as PPS would have climbed significantly.

The next 24 months should be very interesting.

GLTA