Ligand closes $460M 0.75% convertible notes due 2030; net proceeds $445.1M

LIGAND PHARMACEUTICALS INC

Issued $460M aggregate principal of 0.75% convertible senior notes due Oct 1, 2030, including $60M greenshoe exercised.
Initial conversion price ~$194.79/share (32.5% premium over Aug 11 closing price of $147.01).
Net proceeds ~$445.1M; used $45.9M for convertible note hedge, $15M to repurchase 102,034 shares at $147.01/share.
Also entered separate warrant transactions covering ~2.36M shares at strike $294.02/share, potentially dilutive.
Notes may be redeemed at option on/after Oct 6, 2028 if stock >=130% of conversion price for 20 trading days.

item 1.01item 2.03item 3.02item 8.01item 9.01

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.