PTC Therapeutics Completes $550M Convertible Senior Notes Offering

Key Highlights

• PTC Therapeutics completed a private offering of $550,000,000 aggregate principal amount of 0.0% Convertible Senior Notes due 2031.
• The offering included the full exercise of the initial purchasers' option to buy an additional $50,000,000 in notes.
• The Notes will not bear regular interest but may bear special interest under specific circumstances.
• The Notes mature on June 15, 2031, unless earlier converted, redeemed, or repurchased.
• Initial conversion rate is 9.3042 shares of common stock per $1,000 principal amount, equivalent to $107.48 per share.
• The Company may redeem the Notes for cash on or after June 20, 2029, under certain stock price conditions.
• Holders can require the Company to repurchase Notes upon a fundamental change prior to maturity.