{"id":389304,"date":"2020-11-30T06:55:27","date_gmt":"2020-11-30T11:55:27","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=389304"},"modified":"2020-11-30T06:55:27","modified_gmt":"2020-11-30T11:55:27","slug":"lannett-pays-off-in-full-remaining-term-a-loans","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/lannett-pays-off-in-full-remaining-term-a-loans\/","title":{"rendered":"Lannett Pays Off, In Full, Remaining Term A Loans"},"content":{"rendered":"
\n

PR Newswire<\/p>\n<\/p><\/div>\n

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\n PHILADELPHIA<\/span>, Nov. 30, 2020<\/span> \/PRNewswire\/ —\u00a0Lannett Company, Inc. (NYSE: LCI) today announced that the company used a portion of its existing cash on hand to pay off, in full, the remaining $42 million<\/span> outstanding balance of its Term A Loans. <\/p>\n

\n

\n
\n \"Lannett
\n <\/a>\n <\/p>\n<\/p><\/div>\n

“Paying off our Term A Loans is an important achievement and a key step toward strengthening our balance sheet and improving our long-term financial health,” said Tim Crew<\/span>, chief executive officer of Lannett. “This payoff will result in annual reductions of interest expense and principal payments of approximately $3 million<\/span> and $27 million<\/span>, respectively. At the same time, we have enhanced our financial flexibility, as the company’s remaining debt is free of financial covenants.” <\/p>\n

\n About Lannett Company, Inc.:
<\/b>Lannett Company, founded in 1942, develops, manufactures, packages, markets and distributes generic pharmaceutical products for a wide range of medical indications.\u00a0 For more information, visit the company’s website at www.lannett.com<\/a>. <\/p>\n

\n This news release contains certain statements of a forward-looking nature relating to future events or future business performance.\u00a0 Any such statement, including, but not limited to, successfully paying off the company’s remaining outstanding debt, whether expressed or implied, is subject to market and other conditions, and subject to risks and uncertainties which can cause actual results to differ materially from those currently anticipated due to a number of factors which include, but are not limited to, the risk factors discussed in the Company’s Form 10-K and other documents filed with the SEC from time to time, including the prospectus supplement related to the proposed offering to be filed with the SEC.\u00a0 These forward-looking statements represent the Company’s judgment as of the date of this news release.\u00a0 The Company disclaims any intent or obligation to update these forward-looking statements.<\/i>\n <\/p>\n

\n\n\n\n\n
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\n Contact:\u00a0<\/span>\n <\/p>\n<\/td>\n

\n

\n Robert Jaffe <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n

\n Robert Jaffe Co., LLC<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n

\n (424) 288-4098<\/span>\n <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n

\u00a0<\/p>\n

<\/div>\n

\n \"Cision\" View original content to download multimedia:http:\/\/www.prnewswire.com\/news-releases\/lannett-pays-off-in-full-remaining-term-a-loans-301180702.html<\/a><\/p>\n

SOURCE Lannett Company, Inc.<\/p>\n<\/p><\/div>\n

\"\"<\/p>\n","protected":false},"excerpt":{"rendered":"

PR Newswire PHILADELPHIA, Nov. 30, 2020 \/PRNewswire\/ —\u00a0Lannett Company, Inc. (NYSE: LCI) today announced that the company used a portion of its existing cash on hand to pay off, in full, the remaining $42 million outstanding balance of its Term A Loans. “Paying off our Term A Loans is an important achievement and a key step toward strengthening our balance sheet and improving our long-term financial health,” said Tim Crew, chief executive officer of Lannett. “This payoff will result in annual reductions of interest expense and principal payments of approximately $3 million and $27 million, respectively. At the same time, we have enhanced our financial flexibility, as the company’s remaining debt is free of financial covenants.” About Lannett Company, Inc.:Lannett … <\/p>\n

Continue reading “Lannett Pays Off, In Full, Remaining Term A Loans”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-389304","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nLannett Pays Off, In Full, Remaining Term A Loans - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/lannett-pays-off-in-full-remaining-term-a-loans\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Lannett Pays Off, In Full, Remaining Term A Loans - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"PR Newswire PHILADELPHIA, Nov. 30, 2020 \/PRNewswire\/ —\u00a0Lannett Company, Inc. (NYSE: LCI) today announced that the company used a portion of its existing cash on hand to pay off, in full, the remaining $42 million outstanding balance of its Term A Loans. “Paying off our Term A Loans is an important achievement and a key step toward strengthening our balance sheet and improving our long-term financial health,” said Tim Crew, chief executive officer of Lannett. “This payoff will result in annual reductions of interest expense and principal payments of approximately $3 million and $27 million, respectively. 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