IRONWOOD PHARMACEUTICALS,INC. (NASDAQ:IRWD) Files An 8-K Termination of a Material Definitive Agreement

IRONWOOD PHARMACEUTICALS,INC. (NASDAQ:IRWD) Files An 8-K Termination of a Material Definitive Agreement
Item 1.02 Termination of a Material Definitive Agreement.

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On January 5, 2017 (the “Funding Date”), Ironwood Pharmaceuticals, Inc. (the “Company”) completed the issuance and sale to, and purchase by, the purchasers, of $150,000,000 in aggregate principal amount of 8.375% Notes due 2026 (the “Notes”).  The Notes were issued and sold in connection with the direct private placement previously announced by the Company on September 26, 2016 and are governed by the indenture, dated September 23, 2016, by and between the Company and U.S. Bank National Association, as trustee. On the Funding Date, the proceeds from the issuance of the Notes were used to redeem the outstanding approximately $134 million in principal amount of the Company’s Linaclotide PhaRMASM 11% Notes due 2024 (the “PhaRMA Notes”), which were issued to the indenture (the “Indenture”), dated January 4, 2013, by and between the Company and U.S. Bank National Association, as trustee and operating bank. The PhaRMA Notes were redeemed at a redemption price equal to 50% of the outstanding principal balance of such PhaRMA Notes. In addition, the Company paid accrued and unpaid interest on the PhaRMA Notes to, but excluding, the Funding Date. As a result, the Company’s obligations under the Indenture have been discharged.



About IRONWOOD PHARMACEUTICALS, INC. (NASDAQ:IRWD)

Ironwood Pharmaceuticals, Inc. is a biotechnology company. The Company’s products Linaclotide provides patients and healthcare practitioners with a treatment option for adults in the United States and certain other countries with irritable bowel syndrome with constipation (IBS-C), chronic idiopathic constipation (CIC) and gastrointestinal (GI) disorders. It operates through human therapeutics segment. Linaclotide is also being developed and commercialized in other parts of the world by certain of its partners. It is engaged in developing therapeutic platforms for the treatment of vascular and fibrotic diseases, and refractory gastroesophageal reflux disease (GERD). Its IW-9179 is used for the treatment of gastroparesis and functional dyspepsia. The Company has conducted an exploratory Phase IIa clinical study of IW-3718 in patients with refractory GERD. It has two sGC development candidates, which include IW-1973 and IW-1701.

IRONWOOD PHARMACEUTICALS, INC. (NASDAQ:IRWD) Recent Trading Information

IRONWOOD PHARMACEUTICALS, INC. (NASDAQ:IRWD) closed its last trading session up +0.42 at 15.85 with 861,849 shares trading hands.

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