---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-23-074397"
form_type: "8-K"
ticker: "PACB"
cik: "0001299130"
company_name: "PACIFIC BIOSCIENCES OF CALIFORNIA, INC."
filed_at: "2023-06-26T23:59:59+00:00"
generated_at: "2026-06-13T16:55:09.684455+00:00"
event_type: "debt"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# PacBio exchanges $441M of 1.50% 2028 notes for $441M of 1.375% 2030 notes with Chimera

## Summary
- Exchanged $441M of 1.50% 2028 Convertible Notes for $441M of new 1.375% 2030 Convertible Notes with Chimera Investment LLC.
- New notes convertible at ~$21.50/share (46.5116 shares per $1,000 principal); interest payable semi-annually.
- After exchange, $459M of original 2028 Notes remain outstanding with unchanged terms.
- Lock-up on Chimera for 3 months; beneficial ownership limited to 4.99% (max 9.99%). Expected close June 30, 2023.
- CEO says exchange extends debt duration and strengthens cash position; company targeting positive cash flows in 2026.

## SEC filing metadata
- accession: 0001104659-23-074397
- form_type: 8-K
- ticker: PACB
- cik: 0001299130
- company_name: PACIFIC BIOSCIENCES OF CALIFORNIA, INC.
- filed_at: 2023-06-26T23:59:59+00:00
- event_type: debt
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 2.03, 8.01, 3.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1299130/000110465923074397/0001104659-23-074397-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1299130/000110465923074397/tm2319528d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-23-074397
- JSON: https://secwatch.observer/filing/0001104659-23-074397.json
- Plain text: https://secwatch.observer/filing/0001104659-23-074397.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.