secwatch.observer — SEC 8-K summary
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Issuer:     RHYTHM PHARMACEUTICALS, INC. (RYTM)
CIK:        0001649904
Form:       8-K
Filed at:   2024-04-16T23:59:59+00:00
Accession:  0001104659-24-047492
Event type: debt
Sentiment:  neutral
Materiality: 0.70
Item codes: 1.01, 3.03, 5.03, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1649904/000110465924047492/0001104659-24-047492-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1649904/000110465924047492/tm2411919d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-24-047492

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