Par Pharmaceutical files registration statement with SEC for initial public offering of common stock

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Par Pharmaceutical Holdings, Inc. (collectively with its subsidiaries, "Par") today announced that it has filed a registration statement with the U.S. Securities and Exchange Commission (SEC) relating to a proposed initial public offering of its common stock. The number of shares to be offered by Par Pharmaceutical Holdings and its shareholders, and the price range for the offering, have not yet been determined.

Par expects to use the net proceeds it receives from the offering to repay a portion of its existing long-term debt and any remaining proceeds for general corporate purposes.

J.P. Morgan and Goldman, Sachs & Co. are acting as joint book-running managers and as representatives of the underwriters for the offering. In addition, Citigroup, Morgan Stanley, BofA Merrill Lynch, Deutsche Bank Securities and Evercore ISI are joint book-running managers for the offering. RBC Capital Markets and TPG Capital BD, LLC are co-managers for the offering.

A registration statement relating to these securities has been filed with the SEC but has not yet become effective. These securities may not be sold, nor may offers to buy be accepted, prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.


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