On December 5, 2022 Acorda Therapeutics, Inc. (Nasdaq: ACOR) reported that it made a cash interest payment of approximately $6.2 million due on December 1, 2022 under its Convertible Senior Secured Notes Indenture (Press release, Acorda Therapeutics, DEC 5, 2022, View Source [SID1234624773]).

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Acorda may elect to make interest payments under the Indenture in cash or shares of the Company’s common stock. The Company made the interest payment using cash that was placed in escrow when the Notes were issued, which is reported on the Company’s balance sheet as restricted cash. By making this interest payment in cash, the Company has ensured that there was no dilution to shareholders.