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Subsequent Events
3 Months Ended
Mar. 31, 2018
Subsequent Events [Abstract]  
Subsequent Events
Subsequent Events
 
On April 27, 2018, the Company announced it had entered into separate, privately negotiated exchange agreements with certain holders of Teligent’s 3.75% Senior Convertible Notes due 2019 (the “2019 Notes”). See Note 6 for more detailed information on the 2019 Notes. Pursuant to the exchange agreements, the holders of the 2019 Notes agreed to exchange an aggregate principal amount of approximately $75.1 million of the 2019 Notes held (the “Exchange Transactions”) in exchange for an estimated $75.1 million in aggregate principal amount of Teligent’s 4.75% Senior Convertible Notes due May 1, 2023 (the “2023 Notes”). The 2023 Notes will be convertible at an initial conversion rate of 224.72 shares per $1,000 principal amount of the 2023 Notes, subject to adjustment upon the occurrence of certain events.

The Exchange Transactions completed on May 1, 2018. Following completion, the aggregate principal amount of the 2019 Notes outstanding is approximately $68 million. In connection with the Exchange Transaction, the Company incurred a 2% transaction fee.

The 2023 Notes and any common stock issuable upon conversion of the 2023 Notes have not been registered under the Securities Act, applicable state securities laws or the securities laws of any other jurisdiction, and may not be offered or sold in the United States without registration or an applicable exemption from registration requirements. Teligent does not intend to file a registration statement for the resale of the 2023 Notes or any common stock issuable upon conversion of the 2023 Notes.