PDL BioPharma Enters into $51.4 Million Capital Provision Agreement with Epps Investments LLC Regarding PDL's Previously Announced Settlement Agreement with Wellstat
Pursuant to the Agreement, PDL will also grant to Epps a security interest in PDL's interest in certain collateral, including the Settlement Agreement and the underlying claims resolved by the Settlement Agreement, as security for the payment of the Company's obligations under the Agreement. Additionally, if the required payments under the Settlement Agreement are not made to PDL in accordance with the terms of the Settlement Agreement by
"We are very pleased to have reached this agreement with Epps, as it brings this matter to a close under definitive and attractive terms to our stockholders as we enter the dissolution process," commented
Throughout its history, PDL's mission has been to improve the lives of patients by aiding in the successful development of innovative therapeutics and healthcare technologies.
For more information please visit https://www.pdl.com/.
This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including as it relates to the Company's Capital Provision Agreement with
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Jody Cain, LHA Investor Relations, 310-691-7100, firstname.lastname@example.org