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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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