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Teligent, Inc. (Nasdaq: TLGT) has appointed John Celentano as the new Chairman of its Board of Directors, succeeding James C. Gale, who has chosen not to seek reelection. Celentano, who joined the board in March 2015, brings extensive experience from Bristol-Myers Squibb, where he held various leadership roles. He also remains a member of Teligent's Compensation and Audit Committees. The company expresses excitement about leveraging Celentano's pharmaceutical expertise to drive future growth.
Teligent, Inc. (Nasdaq: TLGT) announced the appointment of Philip Yachmetz as Chief Legal Officer and Corporate Secretary, effective July 16, 2020. Yachmetz brings extensive experience in the pharmaceutical and healthcare sectors, particularly from his previous roles including Chief Legal and Compliance Officer at Sovereign Medical Services and senior executive at Savient Pharmaceuticals.
In connection with his employment, Teligent's Board granted Yachmetz 23,505 restricted stock units and an option to purchase 36,325 shares at $2.34 each, with vesting scheduled over three years.
Teligent, Inc. (NASDAQ: TLGT) announced on June 22, 2020, that it has regained compliance with NASDAQ Listing Rule 5450(a)(1), which mandates a minimum bid price of $1.00 per share. This determination comes after the company maintained a closing bid price of at least $1.00 for 10 consecutive business days, following a previous non-compliance notice received on June 5, 2019. Teligent aims to lead the specialty generic prescription drug market.
Teligent, Inc. (NASDAQ: TLGT) announced conversion rate adjustments for its 7.0% Cash / 8.0% PIK Series B Senior Unsecured Convertible Notes and 4.75% Convertible Senior Notes, following a one-for-ten reverse stock split effective from May 28, 2020. The new conversion rates are now 138.8897 shares per $1,000 of Series B Notes and 22.4720 shares per $1,000 of 4.75% Notes. This adjustment aligns with the terms set in the indentures governing these notes and has been communicated to the noteholders and the trustee.
Teligent (NASDAQ: TLGT) announced a one-for-ten reverse stock split, effective May 28, 2020. This decision, approved by stockholders, aims to raise the trading price of its shares to maintain compliance with NASDAQ’s $1.00 minimum bid requirement. After the split, outstanding shares will decrease from approximately 53.9 million to around 5.4 million. The stock will continue trading under the symbol "TLGT". No changes will occur in voting rights or authorized shares, and fractional shares will be rounded up. More details are accessible via the SEC filings.
Teligent, Inc. (NASDAQ: TLGT) will hold a conference call on May 22, 2020, at 8:00 AM ET to discuss its Q1 2020 financial results and business updates. Participants can join by dialing (866) 393-8366 for U.S. listeners or (409) 350-3154 for international callers. The call will also be available via webcast in the Investor Relations section of Teligent's website.
Teligent specializes in the specialty generic pharmaceutical market, aiming to establish itself as a key player in this sector.