---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-23-165273"
form_type: "8-K"
ticker: "IONS"
cik: "0000874015"
company_name: "IONIS PHARMACEUTICALS INC"
filed_at: "2023-06-12T23:59:59+00:00"
generated_at: "2026-06-14T03:24:48.485533+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Ionis closes $575M convertible notes offering, repurchases $434.1M of 2024 notes

## Summary
- Issued $575M aggregate principal of 1.75% convertible senior notes due 2028, including full exercise of greenshoe.
- Net proceeds approximately $560.8M after deducting discounts, commissions, and offering expenses.
- Used $420.4M of net proceeds to repurchase $434.1M in aggregate principal of its 0.125% convertible notes due 2024.
- Initial conversion price $53.73 per share, representing a 32.5% premium over the June 7, 2023 closing price of $40.55.
- Remaining proceeds expected to fund additional 2024 note repurchases, repayment at maturity, and general corporate purposes.

## SEC filing metadata
- accession: 0001193125-23-165273
- form_type: 8-K
- ticker: IONS
- cik: 0000874015
- company_name: IONIS PHARMACEUTICALS INC
- filed_at: 2023-06-12T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 1.01, 2.03, 3.02, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/874015/000119312523165273/0001193125-23-165273-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/874015/000119312523165273/d511748d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-23-165273
- JSON: https://secwatch.observer/filing/0001193125-23-165273.json
- Plain text: https://secwatch.observer/filing/0001193125-23-165273.txt

## Key facts
- Debt Financings
  IONIS PHARMACEUTICALS INC incurred convertible notes of $575.0 million aggregate principal amount at 1.75% per year maturing June 15, 2028.
  - Instrument: convertible notes
  - Principal: $575.0 million aggregate principal amount
  - Rate: 1.75% per year
  - Maturity: June 15, 2028
  - Event: incurrence
  source text: On June 12, 2023, Ionis Pharmaceuticals, Inc. (the “Company”) completed its previously announced private offering (the “Offering”) of $575.0 million aggregate principal amount of 1.75% Convertible Senior Notes due 2028
  evidence_url: https://www.sec.gov/Archives/edgar/data/874015/000119312523165273/0001193125-23-165273-index.htm
- Material Agreements
  IONIS PHARMACEUTICALS INC entered into Indenture with U.S. Bank Trust Company, National Association valued at $575.0 million aggregate principal amount (effective 2023-06-12).
  - Action: entry
  - Agreement: notes offering
  - Counterparty: U.S. Bank Trust Company, National Association
  - Value: $575.0 million aggregate principal amount
  - Effective: 2023-06-12
  source text: On June 12, 2023, Ionis Pharmaceuticals, Inc. (the “Company”) completed its previously announced private offering (the “Offering”) of $575.0 million aggregate principal amount of 1.75% Convertible Senior Notes due 2028 (the “Notes”), including the exercise in full of the initial purchasers’ option to purchase up to an additional $75.0 million principal amount of Notes.
  evidence_url: https://www.sec.gov/Archives/edgar/data/874015/000119312523165273/0001193125-23-165273-index.htm

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