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KV Pharmaceutical Emerges from Chapter 11
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KV Pharmaceutical Company is an American drug company that brings generic and non-branded pharmaceutical products to the market. Their research and manufacture is headquartered in St. Louis. The company has more than 50 years of experience bringing drugs to market. Today the drug maker emerged from chapter 11 with reduced debt and a $375 million recapitalization.

Major players in the recapitalization have been Capital Ventures International, an arm of Susquehanna International as represented by Lowenstein Sandler,  Deutsche Bank, as represented by White & Case, Greywolf Capital, represented by Dechert, and Kingdon Capital as represented by Sidley Austin.


The investors have “provided the majority of funding of the company’s new $100 million credit facility.” With almost $300 million dollars in rights and with a “direct purchase” of new common shares, the turnaround has happened and KV’s has been given a new lease. The existing senior secured notes will be paid in cash, according to RTT news. General unsecured creditors and holders of otherwise unsecured debt will receive a “pro rata share of $10.25 million.”  The holders of convertible subordinated notes will receive about 7 percent of KV’s new issuance of common shares. All older and previously existing preferred and common stock has been cancelled. The new deal as it stands helps to transition the pharmaceutical company to a healthy balance sheet. KV pharmaceuticals will have the momentum to satisfy investors with strong performance quarter after quarter.





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