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ACOR > SEC Filings for ACOR > Form 8-K on 18-Jun-2014All Recent SEC Filings

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Other Events, Financial Statements and Exhibits

Item 8.01 Other Events

On June 18, 2014, Acorda Therapeutics, Inc. (the "Company") issued a press release announcing the pricing of a public offering of $300 million principal amount of convertible senior notes due 2021 (the "Notes"). The Notes will bear interest at an annual rate of 1.75% and will mature on June 15, 2021, unless earlier converted, purchased or redeemed. The Company granted the underwriter an option to purchase up to an additional $45 million principal amount of Notes to cover over-allotments, if any. The Company intends to use the net proceeds from this offering for general corporate purposes, including to fund possible acquisitions of, or investments in, complementary businesses, products and technologies.

The Notes will be convertible prior to December 15, 2020 only under certain circumstances and during certain periods, and will be convertible thereafter regardless of those circumstances. The conversion rate will initially be 23.4968 shares of the Company's common stock per $1,000 principal amount of Notes (equivalent to an initial conversion price of approximately $42.56 per share of the Company's common stock), subject to adjustment in certain circumstances. Upon conversion, the Notes may be settled, at the Company's election, in cash, shares of the Company's common stock or a combination of cash and shares of the Company's common stock.

J.P. Morgan Securities LLC is acting as the sole book-running manager for the Notes offering.

A copy of the press release is attached as Exhibit 99.1 to this Current Report on Form 8-K, and incorporated by reference into this Item.

Item 9.01 Financial Statements and Exhibits

(d) Exhibits

No. Description

99.1 Press Release dated June 18, 2014

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