Goodwin advised AMAG Pharmaceuticals, Inc. (NASDAQ:AMAG) in its definitive agreement to divest Cord Blood Registry (CBR®) to GI Partners for $530 million in an all cash sale. AMAG intends to use the majority of the transaction’s proceeds to pay off the remaining $475 million of principal of its 7.875% senior notes due 2023.
The transaction, which has been unanimously approved by AMAG’s Board of Directors, is expected to close in the third quarter of 2018 subject to customary closing conditions.
AMAG is a biopharmaceutical company focused on developing and delivering important therapeutics, conducting clinical research in areas of unmet need and creating education and support programs for the patients and families it serves.
The Goodwin team was led by partners Stuart Cable and Jacqueline Mercier and included partners Janet Andolina, Sarah Bock, Jennifer Bralower and Jennifer Fay, and associates Margaret Hickey, William Dougherty, Morgan Frisoli and Christopher Steinroeder.
For additional details on the agreement, please read the press release.