BridgeBio Pharma (BBIO) said Wednesday it priced $500 million of 1.75% convertible senior notes due March 1, 2031 in a private offering, for about $489.5 million in expected net proceeds.
The company granted the initial purchasers an option to buy up to an additional $75 million of notes.
BridgeBio said it expects the offering to close Friday and plans to use a portion of the net proceeds to repay all outstanding borrowings under and terminate its January 2024 financing agreement, among other things.
The company's shares were down 5.2% in recent premarket activity.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.