October 8, 2015 8:46 AM EDT
IEH Biopharma LLC (the "Offeror"), a subsidiary of Icahn Enterprises L.P. (NASDAQ: IEP), announced today that its previously announced cash tender offer (the "Offer") for any and all of the outstanding 4.50% Convertible Senior Notes due 2020 of VIVUS, Inc. (Nasdaq: VVUS) (the "Notes"), expired at 5:00 p.m., New York City time, on October 7, 2015 (the "Expiration Date"). The Offer was made pursuant to an Offer to Purchase, dated September 9, 2015, and the related Letter of Transmittal, dated September 9, 2015, which set forth the terms of the Offer.
As of the Expiration Date, the Offeror received tenders for $170,165,000 aggregate principal amount (or 68%) of the issued and outstanding Notes, which satisfied the minimum condition of the Offer. The remaining conditions upon which the consummation of the Offer was subject have also been satisfied. As a result, the Offeror will pay $680 for each $1,000 of principal amount of Notes validly tendered and not validly withdrawn, plus accrued but unpaid interest from the last interest payment date up to, but excluding, the date of payment for the Notes by the Offeror, which is expected to be October 9, 2015.
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