Synergy Pharma makes sweet deal with debt holders

• Synergy Pharmaceuticals (NASDAQ:SGYP) inks exchange agreements with certain holders of its 7.5% Convertible Senior Notes due 2019 under which an aggregate principal amount of ~$20.7M of the Notes and accrued but unpaid interest was exchanged for 7,555,683 shares of common stock which equates $2.74 per common share.
• Today's close was $5.56.