BridgeBio Pharma Inc. (BBIO) announced the pricing of $550 million aggregate principal amount of 0.75% convertible senior notes due 2033 in a private offering. In connection with the offering, the company granted the initial purchasers an option to purchase up to an additional $82.5 million aggregate principal amount of notes. The sale of the notes is expected to close on January 21, 2026, subject to customary closing conditions.
The company estimates that the net proceeds from the sale of the notes will be approximately $538.4 million, after deducting the initial purchasers' discounts and estimated offering expenses payable by the Company.
The company intends to use the net proceeds from the offering to repurchase, settle future conversion obligations in respect of or repay at maturity a portion of the Company's 2.50% convertible senior notes due 2027 on or before the maturity date of the 2027 notes and for general corporate purposes, which may include working capital, capital expenditures and/or debt repayment.
The company intends to use approximately $82.5 million of cash on hand to repurchase approximately 1.1 million shares of its common stock.
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