Insmed calls all $225M convertible notes due 2025; holders can convert to stock at ~$39.16

INSMED Inc

All $225M of 1.75% Convertible Senior Notes due 2025 called for redemption on August 9, 2024.
Redemption price: 100% of principal plus accrued interest (~$1,001.17 per $1,000 principal).
Holders may convert before 5pm ET on Aug 8, 2024; conversion rate = 25.5384 shares per $1,000, equivalent to $39.16/share.
If all converted, up to 5,746,140 shares of common stock will be issued; Company settles conversions in shares.
Paying agent is Computershare Trust Co., N.A.; notes surrenderable through DTC.

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