BUENA, N.J., Sept. 23, 2020 (GLOBE NEWSWIRE) -- Teligent, Inc. (NASDAQ: TLGT) (“Teligent” or the “Company”), a New Jersey-based specialty generic pharmaceutical company, announced the closing of the issuance of approximately $27.5 million aggregate principal amount of Zero Coupon Convertible Senior Notes due 2023 (the “New 2023 Notes”) in exchange for approximately $57.9 million in aggregate principal amount, plus accrued but unpaid interest, of the Company’s outstanding 4.75% Convertible Senior Notes due May 2023 (the “Series A Convertible Notes”), which gives effect to a 52.5% discount on the principal amount of Series A Convertible Notes exchanged. The Company also issued approximately $0.4 million aggregate principal amount of New 2023 Notes in exchange for approximately $0.5 million in aggregate principal amount, plus accrued but unpaid interest, of the Company’s outstanding 7.0% Cash / 8.0% PIK Series B Senior Unsecured Convertible Notes due 2023 (the “Series B Convertible Notes”), which gives effect to a 31% discount on the principal amount of Series B Convertible Notes exchanged.

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