Amarin Corporation plc announced that Corsicanto II Designated Activity Company have entered into separate, privately negotiated purchase agreements with certain investors pursuant to which the Issuer will issue and sell $30.0 million in aggregate principal amount of 3.50% exchangeable senior notes due 2047 which will be guaranteed by company, at an issue price of 100%. The purchase agreements were entered into in contemplation of the surrender for purchase of approximately $15.0 million aggregate principal amount of 3.50% Exchangeable Senior Notes due 2032, which were issued in January 2012 by a subsidiary of company. The company was required by the terms of the indenture governing the 2012 Notes to purchase all 2012 Notes surrendered to it on January 19, 2017. As of approximately $0.1 million aggregate principal amount of 2012 Notes remain outstanding. The 2017 notes will be exchangeable into American Depositary Shares of company at the option of the holders at an initial exchange rate of 257.2016 ADSs per $1,000 principal amount of 2017 Notes (equivalent to an initial exchange price of approximately $3.89 per ADS), subject to adjustment in certain circumstances. The exchange price represents a premium of approximately 35% over the last reported sale price of $2.88 per share of company’s ADS on The NASDAQ Global Market on January 19, 2017. The transaction is expected to close on January 25, 2017, subject to customary closing conditions. The net proceeds from the offering are expected to be $28.9 million after deducting placement agent fees and estimated offering expenses payable by company. A portion of the net proceeds from the offering will replenish approximately $15.0 million of cash on hand that company used to purchase substantially all of the 2012 notes. Company anticipates that it will use such cash on hand and the remainder of the net proceeds from the offering for general corporate and working capital purposes.