---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-24-047492"
form_type: "8-K"
ticker: "RYTM"
cik: "0001649904"
company_name: "RHYTHM PHARMACEUTICALS, INC."
filed_at: "2024-04-16T23:59:59+00:00"
generated_at: "2026-06-03T22:17:07.726940+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Rhythm Pharmaceuticals closes $150M Series A Convertible Preferred issuance to Perceptive affiliates

## Summary
- Closed on April 15, 2024; issued 150,000 shares at $1,000 each for aggregate $150,000,000.
- Convertible Preferred ranks senior to common; liquidation preference initially $1,000, rises to 175% on change of control.
- Dividend rate: 0% for first two years, then 6% per annum (PIK or cash at Company's election), compounded quarterly.
- Registration rights granted to investors for shares issuable upon conversion of Convertible Preferred.
- No dividends on common stock unless equivalent dividend declared on Convertible Preferred.

## SEC filing metadata
- accession: 0001104659-24-047492
- form_type: 8-K
- ticker: RYTM
- cik: 0001649904
- company_name: RHYTHM PHARMACEUTICALS, INC.
- filed_at: 2024-04-16T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 1.01, 3.03, 5.03, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1649904/000110465924047492/0001104659-24-047492-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1649904/000110465924047492/tm2411919d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-24-047492
- JSON: https://secwatch.observer/filing/0001104659-24-047492.json
- Plain text: https://secwatch.observer/filing/0001104659-24-047492.txt

## Key facts
- Governance Changes
  RHYTHM PHARMACEUTICALS, INC.: Filing of Certificate of Designations for Convertible Preferred Stock (effective 2024-04-15).
  - Change: charter amendment
  - Effective: 2024-04-15
  source text: on April 15, 2024, the Company filed the Certificate of Designations with the Secretary of State of the State of Delaware, effective the same day.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1649904/000110465924047492/0001104659-24-047492-index.htm
- 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: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/1649904/000110465924047492/0001104659-24-047492-index.htm

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