---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-24-041970"
form_type: "8-K"
ticker: "RYTM"
cik: "0001649904"
company_name: "RHYTHM PHARMACEUTICALS, INC."
filed_at: "2024-04-01T23:59:59+00:00"
generated_at: "2026-06-04T04:43:46.518151+00:00"
event_type: "other_material"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Rhythm Pharma raises $150M in convertible preferred stock; conversion at $48 (19% premium)

## Summary
- $150M gross proceeds from sale of Series A Convertible Preferred Stock to Perceptive and other existing shareholders.
- Initial conversion price of $48 per share, representing a 19% premium to the 10-day VWAP.
- Cash runway extended into 2026; includes existing cash and net proceeds from the offering.
- Preferred stock pays 6% cumulative annual dividend starting year 2, payable PIK or cash at company's option.
- Convertible after HSR waiting period; company can force conversion if stock >250% of conversion price for 20 of 30 days.

## SEC filing metadata
- accession: 0001104659-24-041970
- form_type: 8-K
- ticker: RYTM
- cik: 0001649904
- company_name: RHYTHM PHARMACEUTICALS, INC.
- filed_at: 2024-04-01T23:59:59+00:00
- event_type: other_material
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 3.02, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1649904/000110465924041970/0001104659-24-041970-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1649904/000110465924041970/tm2410287d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-24-041970
- JSON: https://secwatch.observer/filing/0001104659-24-041970.json
- Plain text: https://secwatch.observer/filing/0001104659-24-041970.txt

## Key facts
- Material Agreements
  RHYTHM PHARMACEUTICALS, INC. entered into Investment Agreement with certain affiliates of Perceptive Advisors LLC and certain other investors valued at $150,000,000 (effective 2024-04-01).
  - Action: entry
  - Agreement: equity purchase
  - Counterparty: certain affiliates of Perceptive Advisors LLC and certain other investors
  - Value: $150,000,000
  - Effective: 2024-04-01
  source text: On April 1, 2024, Rhythm Pharmaceuticals, Inc., a Delaware corporation (the “Company”), entered into an Investment Agreement (the “Investment Agreement”) with certain affiliates of Perceptive Advisors LLC (“Perceptive”) and certain other investors (each, an “Investor” and collectively, the “Investors”), relating to the issuance and sale of 150,000 shares of a new series of the Company’s Series A Convertible Preferred Stock, par value $0.001 per share, titled the “Series A Convertible Preferred Stock” (the “Convertible Preferred Stock”), for an aggregate purchase price of $150,000,000, or $1,000 per share (the “Issuance”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1649904/000110465924041970/0001104659-24-041970-index.htm

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