Mirum Pharmaceuticals Prices $600.0 Million Convertible Senior Notes Offering; Refinances a Portion of 2029 Convertible Notes
Mirum Pharmaceuticals priced a $600 million offering of 0.00% convertible senior notes due 2032, carrying an initial conversion price of $138.94 per share, a 30% premium to the last reported sale price. The company intends to use approximately $475 million of the net proceeds and issue 3.2 million shares of common stock to exchange for and refinance $237.2 million of its existing 4.00% convertible senior notes due 2029.
Key figures
- Deal Value Usd
- 600000000
- Interest rate
- 0.00%
- Maturity year
- 2032
- Conversion price
- $138.94
- Greenshoe amount
- $90.0 million
- Net proceeds base
- $583.8 million
- Prior close price
- $106.88
- Conversion premium
- 30.0%
- 2029 notes refinanced
- $237.2 million
- Shares issued for exchange
- 3200000
- Net proceeds if option exercised
- $671.6 million
AI analysis
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