Company: LGNZZ
Filing Date: 2025-08-14
Form Type: 8-K
Source: 0001193125-25-180841
Chunk: 2

Company: LIGAND PHARMACEUTICALS INC
Filing Date: 2025-08-14
Form: 8-K
Item: Item 1.01
Chunk 2
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, and including, the trading day immediately preceding the date on which the Company provides notice of redemption at a redemption price equal to 100% of the principal amount of the Notes to be redeemed, plus accrued and unpaid interest to, but excluding, the redemption date. The Company may not redeem less than all of the outstanding Notes unless at least $100.0 million aggregate principal amount of Notes are outstanding and not called for redemption as of the time the Company sends the related notice of redemption (and after giving effect to the delivery of such notice of redemption). No sinking fund is provided for the Notes.

If the Company undergoes a “fundamental change” (as defined in the Indenture), holders may require, subject to certain exceptions, the Company to repurchase for cash all or any portion of their Notes at a fundamental change repurchase price equal to 100% of the principal amount of the Notes to be repurchased, plusaccrued and unpaid interest to, but excluding, the fundamental change repurchase date.

The Indenture includes customary covenants and sets forth certain events of default after which the Notes may be declared immediately due and payable and sets forth certain types of bankruptcy or insolvency events of default involving the Company after which the Notes become automatically due and payable. The following events are considered “events of default” under the Indenture:

  default in any payment of interest on any Note when due and payable and the default continues for a period of 30 days;  

  default in the payment of principal of any Note when due and payable at its stated maturity, upon optional redemption, upon any required repurchase, upon declaration of acceleration or otherwise;  

  failure by the Company to comply with its obligation to convert the Notes in accordance with the Indenture upon exercise of a holder’s conversion right and such failure continues for three busi...  

  failure by the Company to give (i) a fundamental change notice or notice of a make-whole fundamental change when due and such failure continues for five business days or (ii) notice of a specif...  

  failure by the Company to comply with its obligations in respect of any consolidation, merger or sale of assets;  

  failure by the Company for 60 days after written notice from the trustee or the holders of at least 25% in principal amount of the Notes then outstanding has been received by the Company to com...  

  default by the Company or any of its “significant subsidiaries” (as defined in the Indenture) with respect to