Endo International Upsizes, Prices Offering Of 24.02 Mln Shares At $83.25/shr

(RTTNews) - Specialty pharmaceutical company Endo International Plc. (ENDP) has announced the upsizing and pricing of its registered offering of ordinary shares. The company will issue 24.02 million ordinary shares at a price of $83.25 per share, for aggregate gross proceeds of around $2 billion as compared to $1.75 billion that was previously announced on June 2.

Closing of the offering is expected to occur on or about June 10. The company has also granted the underwriters of the offering an option, exercisable for a period of 30 days following the date of the final prospectus supplement, to purchase an additional 3.60 million ordinary shares.

The company expects to use the net proceeds of the offering, together with the proceeds of additional debt and cash on hand, to fund the previously announced acquisition of Par Pharmaceutical Holdings, Inc., as well as repayments of debt of Par and certain transaction expenses.

The company plans to use any remaining proceeds for general corporate purposes, including acquisitions and debt repayments.