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PTC Therapeutics sells $250mm in convertible debt financing

Executive Summary

Rare disease-focused PTC Therapeutics Inc. sold $250mm aggregate principal amount of its 1.5% convertible senior notes due 2026 to qualified institutional buyers. The notes convert at an initial rate of 19.0404 shares of common stock per $1k principal amount, or $52.52 per share (its stock is currently averaging $43.07).
Deal Industry
  • Biotechnology
    • Antisense, Oligonucleotides
    • Drug Discovery Tools
  • Pharmaceuticals
Deal Status
  • Final
Deal Type
  • Financing
    • Convertible Debt
    • Private Placement

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