Pernix Therapeutics Holdings, Inc., is a specialty pharmaceutical company, that develops, manufactures, markets, and sells branded and generic pharmaceutical products. The company's product include CEDAX, an oral cephalosporin used for the treatment of mild to moderate acute bacterial exacerbations of chronic bronchitis, middle ear infection due to haemophilus influenza, or streptococcus pyogene; Zutripro, Rezira, and Vituz for the relief of cough and nasal congestion; and OMECLAMOX-PAK a gastroenterology product. Its products also comprise Treximet, a medication indicated for the acute treatment of migraine attacks in adults; Silenor, a medication indicated for the treatment of insomnia characterized by difficulty with sleep maintenance; Khedezla, a prescription medication for major depressive disorder. In addition, the company offers various generic pharmaceutical products in the areas of nutritional supplements, analgesics, urinary tract, women's health, pre-natal vitamins, and dental health, as well as allergy, respiratory, iron deficiency, nephrology, and pain management. It serves drug wholesalers, retail drug stores, mass merchandisers, and grocery store pharmacies in the United States. The company was founded in 1996 and is headquartered in Morristown, New Jersey.
Pernix Therapeutics Holdings, Inc. (NASDAQ: PTX) issued $130.0 million principal amount of the Company's 4.25% Convertible Senior Notes due 2021Convertible Senior Notes due 2016. The size of the offering was increased from the previously announced aggregate principal amount of $120 million. The notes will pay interest semi-annually at a rate of 4.25% per annum and will mature on April 1, 2021, unless redeemed, repurchased or converted in accordance with their terms prior to such date. The notes will have an initial conversion rate, subject to adjustment, of 87.2030 shares of the Company’s common stock per $1,000 principal amount of the notes, representing a conversion price of approximately $11.47 per share of the Company’s common stock, based on the last reported sale price of $8.34 per share of the Company’s common stock on April 16, 2015. Needham & Company acted as a co-manager for this transaction. Pernix Therapeutics expects to use $80.9 million of the gross proceeds from the offering to finance the cash consideration portion of the consideration necessary to consummate its previously announced acquisition of the Zohydro® ER franchise, approximately $8.3 million to pay fees and expenses related to such acquisition and the offering, up to $2.2 million to pay the consent fee related to the Company’s previously announced consent solicitation of its 12.00% senior secured notes due 2020 and the remainder for working capital and other general corporate purposes, including to fund possible acquisitions of, or investments in, complementary businesses, products, services and technologies.