Teligent Announces Agreements to Exchange Approximately $65 million of its 3.75% Senior Convertible Notes Due 2019 for 4.75% Senior Convertible Notes Due 2023

Teligent (NASDAQ:TLGT) announced today that it has entered into separate, privately negotiated exchange agreements with certain holders of Teligent’s 3.75% Senior Convertible Notes due 2019.  Pursuant to the exchange agreements, the holders of the 2019 Notes agreed to exchange an aggregate principal amount of approximately $65 million of the 2019 Notes held by them in exchange for an estimated $65 million in aggregate principal amount of Teligent’s 4.75% Senior Convertible Notes due May 1, 2023.

As quoted in the press release:

Teligent anticipates that the Exchange Transactions will be completed on or about May 1, 2018. Upon completion of the Exchange Transactions, the aggregate principal amount of the 2019 Notes outstanding is anticipated to be approximately $78 million.

“Today’s privately negotiated exchange marks an important step as we execute our financial strategy for Teligent,” commented Jason Grenfell-Gardner, Teligent’s President and CEO. “This is a key part of our business plan as we continue to build the future of Teligent.”

The 2023 Notes and any common stock issuable upon conversion of the 2023 Notes have not been registered under the Securities Act, applicable state securities laws or the securities laws of any other jurisdiction, and may not be offered or sold in the United States without registration or an applicable exemption from registration requirements. Teligent does not intend to file a registration statement for the resale of the 2023 Notes or any common stock issuable upon conversion of the 2023 Notes. This press release does not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation, or sale would be unlawful.

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