InvestmentJul 2, 2026, 04:28 PM
BridgeBio Pharma Raises $933.9M in Preferred Equity
AI Summary
BridgeBio Pharma, Inc. announced it has secured an initial $933.9 million in preferred equity investment, with the potential to reach $1 billion. The investment, led by Sixth Street and with participation from HealthCare Royalty (a KKR business), involves the issuance of Series A Cumulative Convertible Participating Preferred Stock. This capital infusion is intended to significantly strengthen the company's balance sheet and accelerate the launch of its pipeline products, including Attruby®, BBP-418, encaleret, and infigratinib.
Key Highlights
- BridgeBio Pharma raised $933.9 million in preferred equity at closing.
- The total investment could reach up to $1 billion with an additional $66.1 million option.
- Sixth Street invested $800 million, and HCRx Investments HoldCo, L.P. invested $133.9 million.
- The Series A Cumulative Convertible Participating Preferred Stock has an initial conversion price of $137.79 per share.
- The conversion price represents over a 100% premium to the company's 30-day volume-weighted average price.
- The preferred stock carries an initial dividend rate of 7.00% per annum, payable in kind or cash.
- The financing strengthens the balance sheet to accelerate present and upcoming product launches.
Price Impact
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