May 1, 2020 / 4:19 PM / a month ago

BRIEF-Vivus Announces Agreement With Ieh Biopharma Llc Granting The Company A 30-Day Grace Period To Restructure Its Corporate Debt

May 1 (Reuters) - Vivus Inc:

* VIVUS ANNOUNCES AGREEMENT WITH IEH BIOPHARMA LLC GRANTING THE COMPANY A 30-DAY GRACE PERIOD TO RESTRUCTURE ITS CORPORATE DEBT

* VIVUS INC - CO DOES NOT CURRENTLY HAVE ABILITY TO PAY PRINCIPAL AMOUNT OF CONVERTIBLE SENIOR NOTES HELD BY IEH BIOPHARMA

* VIVUS INC - UNDER TERMS OF AGREEMENT, CO WILL PAY IEH BIOPHARMA $3.8 MILLION IN ACCRUED AND UNPAID INTEREST ON CONVERTIBLE SENIOR NOTES

* VIVUS INC - IEH BIOPHARMA WILL GRANT CO 30-DAY GRACE PERIOD BEGINNING TODAY, FOR PAYMENT OF PRINCIPAL AMOUNT OF CONVERTIBLE SENIOR NOTES

* VIVUS INC - TWO PARTIES WILL WORK EXCLUSIVELY TO ATTEMPT TO RESTRUCTURE OUTSTANDING PRINCIPAL AMOUNT OF CONVERTIBLE SENIOR NOTES

* VIVUS INC - VIVUS WILL SETTLE OR OTHERWISE SATISFY REMAINING $11.3 MILLION IN PRINCIPAL AND $253,373 IN ACCRUED AND UNPAID INTEREST HELD BY OTHER HOLDERS Source text for Eikon: Further company coverage:

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