Tempus AI closes $750M 0.75% convertible note offering, repays $274.7M term loans

Tempus AI, Inc.

Issued $750M aggregate principal of 0.75% Convertible Senior Notes due July 15, 2030, including full over-allotment.
Net proceeds ~$721.7M; used $274.7M to repay senior secured term loans and $41.8M for capped call transactions.
Initial conversion price ~$84.19 per share (32.5% premium over $63.54 closing price on June 30, 2025).
Entered capped call transactions to reduce potential dilution, with cap price initially $111.195 per share.
Amended credit agreement to permit offering and satisfy junior capital raise, avoiding 0.50% margin increase.

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