secwatch.observer — SEC 8-K summary
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Issuer:     PACIFIC BIOSCIENCES OF CALIFORNIA, INC. (PACB)
CIK:        0001299130
Form:       8-K
Filed at:   2023-06-30T23:59:59+00:00
Accession:  0001104659-23-077161
Event type: debt
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 2.03, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Pacific Biosciences exchanges $441M of 2028 notes for new 1.375% 2030 convertible notes
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- Issued $441M principal of 1.375% Convertible Senior Notes due 2030 in exchange for $441M of 1.50% 2028 Notes.
- No cash proceeds; accrued interest paid on exchanged notes; $459M of 2028 Notes remain outstanding.
- New notes mature Dec 15, 2030, convertible at ~46.5116 shares/$1,000 (initial conversion price ~$21.50/share).
- Notes redeemable after June 20, 2028 if stock price exceeds 150% of conversion price for 20 of 30 consecutive trading days.
- Transaction privately negotiated with Chimera Investment LLC under Section 4(a)(2) exemption.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1299130/000110465923077161/0001104659-23-077161-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1299130/000110465923077161/tm2320097d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-23-077161

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