Omeros to Exchange 2026 Convertible Notes for New 2029 Notes

MT Newswires Live
12 May

Omeros (OMER) said Monday it has entered into agreements with certain investors to exchange $70.5 million of its existing 2026 convertible notes for new 2029 convertible notes with a higher interest rate and a conversion rate set at a 35% premium.

The exchange, extending the maturity of a large portion of Omeros' debt, is expected to close around May 14.

The company said it has also reached an agreement with another investor to convert $10 million of its existing 2026 convertible notes into shares of the company's common stock.

After the planned exchange and conversion of its 2026 convertible notes, Omeros will have about $17.4 million in principal amount of those notes still outstanding, the company said.

The new convertible notes will bear interest at 9.50% per year, payable semi-annually on June 15 and Dec. 15 starting Dec. 15, 2025, and will mature on June 15, 2029, unless converted, redeemed, or repurchased earlier.

Shares of Omeros were down 25% in recent Monday trading.

Price: 4.64, Change: -1.55, Percent Change: -25.00

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Most Discussed

  1. 1
     
     
     
     
  2. 2
     
     
     
     
  3. 3
     
     
     
     
  4. 4
     
     
     
     
  5. 5
     
     
     
     
  6. 6
     
     
     
     
  7. 7
     
     
     
     
  8. 8
     
     
     
     
  9. 9
     
     
     
     
  10. 10