KV emerges from Chapter 11

KV Pharmaceutical Co. (OTCQB:KVPHQ) emerged from Chapter 11 bankruptcy with a $375 million recapitalization including a $100 million credit facility and $275 million rights offering and direct share purchase. Capital Ventures; Greywolf Capital; Kingdon Capital; and Deutsche Bank provided the majority of the funding. KV, which could not be reached for details, filed for Chapter 11 in August 2012 because it had been "unable to realize the full value" of preterm birth drug Makena hydroxyprogesterone caproate, citing FDA's lack of enforcement of the market exclusivity. Jefferies advised KV (see BioCentury Extra, Aug. 6, 2012). ...