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Global Blood Raises $300M Via Convertible Debt Offering

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Global Blood Therapeutics Inc (NASDAQ: GBT) priced 0 million Convertible Senior Notes due 2028 in a private offering.

  • The offering size was increased from the previously announced offering size of $250 million.

  • Initial purchasers have an option to purchase up to an additional $45 million of notes.

  • The notes will bear interest at a rate of 1.875% per year, payable semi-annually beginning on June 15, 2022. The notes will mature on December 15, 2028.

  • The notes will be convertible at an initial conversion rate of 31.4985 shares of GBT's shares per $1,000 principal amount of notes. per $1,000 principal amount of notes

  • GBT plans to use part of the proceeds for the continued commercialization of Oxbryta and the clinical development of Oxbryta and its product candidates.

  • GBT shared new data from a Phase 1 study of GBT021601 (GBT601) for sickle cell disease.

  • The data were presented at the American Society of Hematology (ASH) Annual Meeting and Exposition.

  • The sickle hemoglobin polymerization inhibitor demonstrated average hemoglobin occupancy over 30% and improvements in hematologic parameters in patients receiving multiple ascending doses of GBT601.

  • Price Action: GBT shares are up 7.43% at $26.75 during the premarket session on the last check Wednesday.

  • Check out our coverage of the American Society of Hematology (ASH) Annual Meeting 2021 here.

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