PacBio exchanges $459M 2028 notes for $200M 2029 notes, 20.5M shares, $50M cash

PACIFIC BIOSCIENCES OF CALIFORNIA, INC.

Exchanged $459M of 1.5% 2028 notes for $200M new 1.5% 2029 notes, 20.45M shares, and $50M cash.
New notes mature Aug 2029, convertible at ~$4.89/share; interest paid semi-annually.
All 2028 notes to be cancelled; none remain after close on/about Nov 21, 2024.
Transaction extends debt maturity to 2029 and reduces principal by $259M but adds dilution.

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