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News Breaks
December 7, 2012
15:10 EDTLCILannett announces renewal of universal shelf registration statement
Lannett announced that the renewal of its universal shelf registration statement on Form S-3 was declared effective by the SEC. The universal shelf registration statement replaces the company's previous shelf registration statement, which expired on November 20. The universal shelf registration statement permits the company to offer and sell, from time to time, on a continuous or delayed basis in the future, up to $63.75M of equity, debt or other types of securities described in the shelf registration statement, or any combination of such securities, in one or more future public offerings. The shelf registration statement also allowscertain shareholders to sell up to $57.5M of the company's common stock. The company will not receive any proceeds from the sale of these shares. The company's prior shelf registration statement permitted the company to offer up to $80M of securities and permitted certain shareholders to sell up to $70M of the company's common stock. The new shelf registration statement represents the unsold portion of the securities registered pursuant to the prior shelf registration statement.
News For LCI From The Last 14 Days
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November 27, 2015
06:57 EDTLCILannett completes acquisition of Kremers Urban for roughly $1.23B
Lannett Company (LCI) announced that it has completed the acquisition of Kremers Urban Pharmaceuticals, the U.S. specialty generic pharmaceuticals subsidiary of global biopharmaceuticals company UCB S.A. (UCBJY). Lannett has acquired KU from UCB for total consideration of approximately $1.23B, subject to certain adjustments, including a customary working capital adjustment, a deduction of certain reimbursable amounts payable in connection with the financing of the transaction, and a reduction for any indebtedness and unpaid transaction expenses of KU existing at closing. In connection with the transaction, Lannett issued to UCB $200M senior unsecured notes along with 2.5M warrants, which may be net settled. UCB will also be eligible to receive contingent payments for Methylphenidate HCI ER when the product's AB rating is restored. The combined company generated pro-forma revenues of more than $800M for the 12 months ended June 30, 2015. KU brings a diversified commercial product portfolio of 18 products; a strong pipeline that includes 11 product applications pending at the FDA.

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