On October 18, 2022 Acorda Therapeutics, Inc. (Nasdaq: ACOR) reported that it will not use its common stock to make the approximately $6.2 million interest payment due on December 1, 2022, as provided for under its Convertible Senior Secured Notes Indenture (Press release, Acorda Therapeutics, OCT 18, 2022, View Source [SID1234622103]).

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Under the terms of the agreement with bondholders, Acorda may elect to pay interest in cash or shares of the Company’s common stock. Not paying in shares of common stock will ensure that there will be no dilution to shareholders.