On Monday, Share of Endo International plc – Ordinary Shares (NASDAQ:ENDP) inclined 2.03% and is at $12.07 in the Real-Time trading session, while the stocks are trading within the range of $11.94 – $12.69. In the past year, the stock has traded within a range of $9.70 – $35.34. The current session’s volume of 7.53M shares is lower from their average daily trading volume of 11.24M shares. Endo International plc (NASDAQ: ENDP) (“Endo”) recently declared that Endo Designated Activity Company, Endo Finance LLC and Endo Finco Inc. (collectively, the “Issuers”), its wholly-owned auxiliaries, intend to offer senior secured notes, subject to market and customary conditions. The notes will be senior obligations of the Issuers and will be guaranteed by Endo and certain of Endo’s auxiliaries and will be secured by first priority liens on the same collateral that secures Endo’s obligations under its formerly declared newly projected senior secured credit facilities.
Endo intends to use the net proceeds from the projected offering, together with the proceeds of its new term loan facility and cash on hand, to repay all its outstanding loans and all other obligations under its existing credit facilities (the “Refinancing”) and to pay related fees and expenses.
The notes and the related guarantees have not been and will not be registered under the Securities Act of 1933 (the “Securities Act”), as amended, or any applicable state or foreign securities laws, and will be offered only to qualified institutional buyers in reliance on Rule 144A, and to persons outside the United States in compliance with Regulation S under the Securities Act. Unless so registered, the notes and the related guarantees may not be offered or sold in the United States except following an exemption from the registration requirements of the Securities Act and applicable state securities laws. This press release will not constitute an offer to sell or a solicitation of an offer to buy any notes or any other securities.
Kimberly Clark Corp (NYSE:KMB) gained 0.46% right now and is at $131.94. The 52-week range of the share price is from $111.30 – $138.87. The company has total market capitalization of $47.02 Billion. The current session’s volume of 534,099.00 shares is lower from their average daily trading volume of 1.75M shares. Kimberly-Clark Corporation (NYSE: KMB) recently declared it will challenge the recent verdict in a California class action lawsuit involving MicroCool surgical gowns sold by Halyard Health, its former health care business.
Nearly seventy million MicroCool gowns have been sold without a single complaint of an injury. The Company believes the jury’s verdict is contrary to the evidence presented at trial and that its punitive damages award is baseless, excessive and not consistent with California and federal laws. The Company therefore intends to challenge the verdict in post-judgment motions in the District Court and, depending upon the rulings on those motions, to appeal to the United States Court of Appeals for the Ninth Circuit.
Based on its confidence in the success of its challenge to the verdict, in addition to an indemnification agreement with co-defendant Halyard Health, (which was spun off from Kimberly-Clark at the end of 2014) under which Halyard Health must cover Kimberly-Clark’s losses, claims and expenses related to this litigation, Kimberly-Clark believes the final outcome of this litigation will not result in any material financial exposure for the company.