IONIS PHARMACEUTICALS INC (IONS): debt financing — Ionis closes $770M 0% convertible notes offering, repurchases $200M of 2026 notes

IONIS PHARMACEUTICALS INC

Issued $770M aggregate principal of 0.00% Convertible Senior Notes due 2030 (including full greenshoe), net proceeds ~$751.2M.
Used ~$267.6M of net proceeds to repurchase $200M of existing 2026 convertible notes via concurrent transactions.
Remaining proceeds for further repurchases of 2026 notes and general corporate purposes.
Initial conversion rate: 10.1932 shares/$1,000, conversion price ~$98.10 (35% premium over Nov 12 close of $72.67).
Notes mature Dec 1, 2030, no regular interest, redeemable after Dec 6, 2028 if stock ≥130% of conversion price.

item 1.01 item 2.03 item 3.02 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

IONIS PHARMACEUTICALS INC incurred convertible notes of $770.0 million aggregate principal amount with U.S. Bank Trust Company, National Association at 0.00% maturing December 1, 2030.

Instrument: convertible notes
Principal: $770.0 million aggregate principal amount
Counterparty: U.S. Bank Trust Company, National Association
Rate: 0.00%
Maturity: December 1, 2030
Event: incurrence

Exact text from the filing

On November 17, 2025, Ionis Pharmaceuticals, Inc. (the “Company”) completed its previously announced private offering (the “Offering”) of $770.0 million aggregate principal amount of 0.00% Convertible Senior Notes due 2030 (the “Notes”), including the exercise in full of the initial purchasers’ option to purchase up to an additional $70.0 million principal amount of Notes.

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Equity Issuances SEC 8-K Item 3.02/3.03 confidence 0.9

IONIS PHARMACEUTICALS INC issued convertible note to initial purchasers for $770.0 million aggregate principal amount.

Security: convertible note
Purchaser: initial purchasers
Consideration: $770.0 million aggregate principal amount

Exact text from the filing

On November 17, 2025, Ionis Pharmaceuticals, Inc. (the “Company”) completed its previously announced private offering (the “Offering”) of $770.0 million aggregate principal amount of 0.00% Convertible Senior Notes due 2030 (the “Notes”), including the exercise in full of the initial purchasers’ option to purchase up to an additional $70.0 million principal amount of Notes.

View on SEC.gov

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Source: SEC EDGAR

accession 0001193125-25-284609

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