---
schema_version: "secwatch.filing_event.v1"
accession: "0001140361-24-005309"
form_type: "8-K"
ticker: "IMCR"
cik: "0001671927"
company_name: "Immunocore Holdings plc"
filed_at: "2024-02-02T23:59:59+00:00"
generated_at: "2026-06-06T09:57:33.925925+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Immunocore completes $402.5M convertible notes offering at 2.50% due 2030

## Summary
- Aggregate principal $402.5M including $52.5M option exercise; net proceeds ~$389.3M.
- 2.50% interest, maturity Feb 1, 2030; initial conversion price ~$94.70/ADS (40% premium to $67.64).
- Proceeds to accelerate clinical pipeline, commercial expansion, repay Pharmakon loans, and general corporate.
- Offering upsized from $300M; sold in private placement to QIBs under Rule 144A.
- Notes redeemable after Feb 5, 2027 if ADS price >=130% of conversion price for 20 of 30 trading days.

## SEC filing metadata
- accession: 0001140361-24-005309
- form_type: 8-K
- ticker: IMCR
- cik: 0001671927
- company_name: Immunocore Holdings plc
- filed_at: 2024-02-02T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 1.01, 2.03, 3.02, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1671927/000114036124005309/0001140361-24-005309-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1671927/000114036124005309/ef20020523_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001140361-24-005309
- JSON: https://secwatch.observer/filing/0001140361-24-005309.json
- Plain text: https://secwatch.observer/filing/0001140361-24-005309.txt

## Key facts
- Debt Financings
  Immunocore Holdings plc incurred convertible notes of $402.5 million aggregate principal amount with U.S. Bank Trust Company, National Association at 2.50% per year maturing February 1, 2030.
  - Instrument: convertible notes
  - Principal: $402.5 million aggregate principal amount
  - Counterparty: U.S. Bank Trust Company, National Association
  - Rate: 2.50% per year
  - Maturity: February 1, 2030
  - Event: incurrence
  source text: On February 2, 2024, Immunocore Holdings plc (the “Company”) completed its previously announced private offering (the “Offering”) of $402.5 million aggregate principal amount of 2.50% Convertible Senior Notes due 2030 (the “Notes”), including the exercise in full of the initial purchasers’ option to purchase up to an additional $52.5 million principal amount of Notes.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1671927/000114036124005309/0001140361-24-005309-index.htm
- Material Agreements
  Immunocore Holdings plc entered into Indenture with U.S. Bank Trust Company, National Association valued at $402.5 million aggregate principal amount (effective 2024-02-02).
  - Action: entry
  - Agreement: notes offering
  - Counterparty: U.S. Bank Trust Company, National Association
  - Value: $402.5 million aggregate principal amount
  - Effective: 2024-02-02
  source text: The Notes were issued pursuant to an indenture, dated February 2, 2024 (the “Indenture”), between the Company and U.S. Bank Trust Company, National Association, as trustee.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1671927/000114036124005309/0001140361-24-005309-index.htm

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