09:28 AM EST, 12/13/2024 (MT Newswires) -- Esperion Therapeutics ( ESPR ) said Friday it entered into privately negotiated exchange and subscription agreements with certain holders of $210.1 million of its outstanding 4.00% convertible senior subordinated notes due 2025 who agreed to a combination of $57.5 million of new 5.75% convertible senior subordinated notes maturing in 2030 and around $153.4 million in cash for their notes.

Once the exchange transactions close, expected on Dec. 17, the company said around $54.9 million of the 2025 convertible notes will remain outstanding.

Esperion shares were down over 13% shortly ahead of Friday's opening bell.