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.

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