Goodwin’s Life Sciences Capital Markets team advised BridgeBio Pharma, Inc. (Nasdaq: BBIO) on its offering of 1.75% Convertible Senior Notes due 2031. The offering priced at $500 million, plus the full exercise of the initial purchasers’ option to purchase an additional $75 million of notes. The initial conversion price of the notes featured a premium of 45% up from the reference price of $34.35. BridgeBio used a portion of the net proceeds from the offering to repurchase shares of its common stock and repay outstanding indebtedness.
BridgeBio Pharma Inc. is a new type of biopharmaceutical company founded to discover, create, test and deliver transformative medicines to treat patients who suffer from genetic diseases. BridgeBio’s pipeline of development programs ranges from early science to advanced clinical trials. BridgeBio was founded in 2015 and its team of experienced drug discoverers, developers and innovators are committed to applying advances in genetic medicine to help patients as quickly as possible.
Goodwin’s product team included Jim Barri, Kim de Glossop and Nikki Miller. Goodwin’s corporate team included Maggie Wong, Natalie T. Martirossian, Alicia Tschirhart, Claire Treesh, Amanda Rae Schwarzenbart, Dan Liu and Harper Vincent. Dan Karelitz and Garrett Gaughan provided tax advice.
For more information, please see BridgeBio’s pricing press release for the offering.