QVT Financial Purchase $20M of Convertible Debt Issued by VIVUS (VVUS)

QVT Financial LP purchased an aggregate $20,000,000 of VIVUS, Inc.’s (Nasdaq: VVUS) 4.50% convertible senior unsecured notes due May 1, 2020 (including $15,325,000 purchased by QVT Fund V LP), pursuant to the Issuer’s offering, on May 16, 2013. Prior to November 1, 2019, the Notes may be converted into shares of Common Stock only upon the occurrence of certain conditions outside of the Reporting Persons’ control. In addition, upon conversion, the Issuer has the option to pay or deliver either cash, shares of Common Stock or a combination of the two. Accordingly, the Reporting Persons will not beneficially own any of the shares of Common Stock into which the Notes are convertible until such time, if any, as the Reporting Persons surrender their Notes for conversion and the Issuer elects to satisfy its conversion obligation in whole or in part by issuing shares of Common Stock.

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