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Corium, Inc. announced today that its Board of Directors has named Perry Sternberg as Chief Executive Officer. Mr. Sternberg is a senior pharmaceutical executive with commercial experience across a wide range of therapeutic areas in diverse markets.
The Fundamental Change Repurchase is being made pursuant to Section 4.02 of the Indenture, which provides that, on or before the twentieth (20th) calendar day after the occurrence of a Fundamental Change (as defined in the Indenture), the Issuer shall make an offer to each registered holder of Notes (“Holder”) to repurchase all or any part (equal to $1,000 in principal amount or an integral multiple of $1,000 in excess thereof) of each Holder’s Notes at a purchase price for any Note in an amount in cash equal to the principal amount of such Note, plus accrued and unpaid interest on such Note to, but excluding, the Fundamental Change Repurchase Date (as defined below) for such Fundamental Change (the “Fundamental Change Purchase Price”). Holders whose Notes are being purchased only in part will be issued new Notes equal in principal amount to the unpurchased portion of the Notes surrendered, whose unpurchased portion must be equal to $1,000 in principal amount or an integral multiple of $1,000 in excess thereof.