Corporate ActionJun 5, 2026, 06:07 AM
Gossamer Bio Completes Early Settlement of $181M Convertible Note Exchange
AI Summary
Gossamer Bio, Inc. announced the early settlement of its exchange offer and consent solicitation for its 5.00% Convertible Senior Notes due 2027. The company accepted $181,052,000 in principal amount of existing notes, representing 90.526% of the outstanding amount, after amending the minimum tender condition. In exchange, Gossamer Bio issued $65,174,000 in new 7.50% Convertible Senior Secured First Lien Notes due 2030, along with 254,150,441 new common shares, 33,402,727 prefunded warrants, and 135,789,000 purchase warrants. The consent solicitation also successfully amended the existing note indenture, removing restrictive covenants.
Key Highlights
- Early settlement of exchange offer for 5.00% Convertible Senior Notes due 2027 completed.
- $181,052,000 in Existing Convertible Notes tendered and accepted, representing 90.526% of outstanding.
- Minimum tender condition for the exchange offer was amended from 98% to 90.5%.
- Issued $65,174,000 in new 7.50% Convertible Senior Secured First Lien Notes due 2030.
- Issued 254,150,441 new common shares and 33,402,727 prefunded warrants.
- Issued 135,789,000 purchase warrants.
- Sufficient consents obtained to amend Existing Convertible Notes Indenture, removing restrictive covenants.
- $18,948,000 in Existing Convertible Notes remain outstanding.
Price Impact
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