Halozyme proposes $500M convertible notes due 2028, plans $200M share repurchase and debt repayment

HALOZYME THERAPEUTICS, INC.

$500M aggregate principal of convertible senior notes due 2028; initial purchasers have option for additional $75M.
Proceeds uses: up to $200M share repurchases (increase of $100M vs prior 2022 plan), exchange of existing 1.25% convertibles, and repayment of $250M term loan due 2026.
Capped call transactions will be entered to reduce potential dilution upon conversion of the notes.
Interest rate and conversion rate determined at pricing; conversions settled in cash plus stock if applicable.

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