SEC Info - PDL Biopharma, Inc. - ‘8-K’ for 8/1/16

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PDL Biopharma, Inc. – ‘8-K’ for 8/1/16

On: Monday, 8/1/16, at 4:16pm ET · For: 8/1/16 · Accession #: 882104-16-173 · File #: 0-19756

  As Of                Filer                Filing    For·On·As Docs:Size

 8/01/16  PDL Biopharma, Inc.               8-K:8,9     8/01/16    2:115K

Current Report — Form 8-K
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 8-K         Current Report                                      HTML     16K 
 2: EX-99.1     Press Release                                       HTML     10K

8-K — Current Report

This is an HTML Document rendered as filed. [ Alternative Formats ]

Document

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of Earliest Event Reported): July 28, 2016

PDL BioPharma, Inc.

(Exact name of Company as specified in its charter)

000-19756

(Commission File Number)



Delaware		94-3023969
(State or Other Jurisdiction of Incorporation)		(I.R.S. Employer Identification No.)

932 Southwood Boulevard

Incline Village, Nevada 89451

(Address of principal executive offices, with zip code)

(775) 832-8500

(Company’s telephone number, including area code)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the Company under any of the following provisions:

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 8.01 Other Events.

ARIAD Royalty Agreement Second Tranche Payment

On July 28, 2016, PDL funded the second tranche of $50.0 million due on the first anniversary of the closing date of the ARIAD Royalty Agreement. Under the terms of the ARIAD Royalty Agreement and in conjunction with the payment of the second tranche of $50.0 million, the Company's royalty rate will increase from 2.5% to 5.0 % of Iclusig^® revenue.

On August 1, 2016, the Company issued a press release regarding the above. A copy of the press release is furnished hereto as Exhibit 99.1.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits



Exhibit No.		Description

99.1		Press Release

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Company has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.



PDL BIOPHARMA, INC.
(Company)

By:		/s/ *Peter S. Garcia*
		Peter S. Garcia
		Vice President and Chief Financial Officer

Dated: August 1, 2016

Exhibit Index



Exhibit No.		Description
99.1		Press Release

Dates Referenced Herein

This ‘8-K’ Filing	Date	Other Filings

Filed on / For Period End:	8/1/16	None on these Dates
	7/28/16
		List all Filings

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Filing Submission 0000882104-16-000173 – Alternative Formats (Word / Rich Text, HTML, Plain Text, et al.)