Travere Therapeutics, Inc. (TVTX): debt financing — Travere closes $525M 0.50% convertible note offering; uses proceeds to repurchase $221.4M of 2029 notes

Travere Therapeutics, Inc.

Closed offering of $525M aggregate principal of 0.50% Convertible Senior Notes due 2032; net proceeds est. $508.5M.
Initial conversion price ~$64.90/share (15.4078 shares per $1,000 principal); notes mature May 15, 2032.
To repurchase $221.4M of outstanding 2.25% 2029 notes for approx. $350.9M, including accrued interest.
Remaining net proceeds for general corporate purposes, including commercialization and R&D.
Underwriters' over-allotment option fully exercised; offering upsized from $400M to $475M then to $525M.

item 1.01 item 8.01 item 2.03 item 3.02 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 0.99

Travere Therapeutics, Inc. incurred convertible notes of $525.0 million aggregate principal amount with U.S. Bank Trust Company, National Association at 0.50% maturing May 15, 2032.

Instrument: convertible notes
Principal: $525.0 million aggregate principal amount
Counterparty: U.S. Bank Trust Company, National Association
Rate: 0.50%
Maturity: May 15, 2032
Event: incurrence

Exact text from the filing

completed its registered underwritten public offering of $525.0 million aggregate principal amount of 0.50% Convertible Senior Notes due 2032

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Travere Therapeutics, Inc. entered into Underwriting Agreement with J.P. Morgan Securities LLC, Jefferies LLC and Leerink Partners LLC, as representatives of the several underwriters valued at $525.0 million aggregate principal amount of 0.50% Convertible Senior Notes due 2032 (effective 2026-05-11).

Action: entry
Agreement: underwriting
Counterparty: J.P. Morgan Securities LLC, Jefferies LLC and Leerink Partners LLC, as representatives of the several underwriters
Value: $525.0 million aggregate principal amount of 0.50% Convertible Senior Notes due 2032
Effective: 2026-05-11

Exact text from the filing

On May 11, 2026 (the “Closing Date”), Travere Therapeutics, Inc. (the “Company”) completed its registered underwritten public offering of $525.0 million aggregate principal amount of 0.50% Convertible Senior Notes due 2032 (such notes, the “Notes,” and such offering, the “Offering”) pursuant to the underwriting agreement (the “Underwriting Agreement”) with J.P. Morgan Securities LLC, Jefferies LLC and Leerink Partners LLC, as representatives of the several underwriters (the “Underwriters”)

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114 debt financings filed in the last 30 days. Browse all debt financings →

Travere Therapeutics, Inc. filing history →

Source: SEC EDGAR

accession 0001193125-26-217100

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