NEWPORT BEACH, Calif., Dec. 3, 2018 /PRNewswire/ -- ALPHAEON Corporation announced today that it has repaid the principal amount (approximately $56 million) of its secured convertible note obligations ahead of their December 23, 2018 maturity date. ALPHAEON achieved this through sales of a portion of its holdings of shares of Evolus, Inc. (EOLS) common stock on each of July 23, 2018 and September 11, 2018, and a more recent repayment of approximately $8 million in principal amount of secured convertible notes using a portion of its Evolus, Inc. shares. ALPHAEON utilized $2 million in cash to settle the remaining principal balance under the notes.
The shares of Evolus, Inc. common stock transferred to the holders in repayment of the $8 million principal obligation were not registered under the Securities Act of 1933, as amended, or state securities laws and may not be offered or sold in the United States absent registration with the SEC or an applicable exemption from registration requirements, such as Rule 144. For Rule 144 to apply, such shares will be subject to a minimum six-month holding period, among other requirements. ALPHAEON remains a long-term, majority shareholder of Evolus, Inc. and at this time does not anticipate any additional sales of its holdings in Evolus, Inc. common stock in the near-term.
About ALPHAEON Corporation
ALPHAEON Corporation is a company focused on transforming lifestyle healthcare by bringing to market highly innovative products and services to promote consumer wellness, beauty and performance together with board certified physicians.
ALPHAEON PRESS CONTACT:
View original content to download multimedia:http://www.prnewswire.com/news-releases/alphaeon-repays-outstanding-principal-amount-under-its-secured-convertible-notes-due-december-23-2018-300758727.html