Corporate ActionJul 1, 2026, 09:07 AM
Gossamer Bio Sets Convertible Note Conversion Rate, Warrant Price
AI Summary
Gossamer Bio, Inc. announced the initial conversion rate for its 7.50% Convertible Senior Secured First Lien Notes due 2030 and the initial exercise price for its Purchase Warrants. The conversion rate for the 2030 Convertible Notes is 5,347.5936 shares of common stock per $1,000 principal amount, representing a conversion price of approximately $0.19 per share. The Purchase Warrants' exercise price is set at $0.34 per whole share, with these rates based on a "Reference Price" of $0.17.
Key Highlights
- Initial conversion rate for 2030 Convertible Notes set at 5,347.5936 shares per $1,000 principal amount.
- Conversion price for 2030 Convertible Notes is approximately $0.19 per share of common stock.
- Initial exercise price for Purchase Warrants set at $0.34 per whole share of common stock.
- The "Reference Price" used for calculations was determined to be $0.17.
- The 2030 Convertible Notes are 7.50% Convertible Senior Secured First Lien Notes.
Price Impact
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