BridgeBio raises $1B in convertible preferred equity from Sixth Street and KKR

BridgeBio Pharma, Inc.

Sixth Street invested $800M and HCRx (KKR affiliate) invested $133.9M in Series A convertible preferred stock.
Initial conversion price of $137.79 per share (over 100% premium to 30-day VWAP); increases to $153.10 after year 5.
Preferred stock carries 7.00% annual dividend, payable in kind or cash at Company's option; no scheduled maturity.
Proceeds to accelerate launches of Attruby, BBP-418, encaleret, and infigratinib over next 12 months.
Company may redeem after year 3 at escalating premiums; conversion mandatory if stock price exceeds 200% of conversion price.

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