Mirum Pharmaceuticals, Inc. (MIRM): debt financing — Mirum issues $690M zero-coupon convertible notes due 2032; exchanges $237M of 2029 notes

Mirum Pharmaceuticals, Inc.

Issued $690M aggregate principal of 0.00% Convertible Senior Notes due 2032, including $90M option exercise.
Initial conversion price ~$138.94 per share, a 30% premium over $106.88 closing price on pricing date.
Concurrently exchanged ~$237.2M of existing 4.00% 2029 notes for $475M cash and ~3.22M shares.
Net proceeds ~$671.6M; remainder for general corporate purposes and potential acquisitions.
Notes mature June 1, 2032; redeemable after June 6, 2029 under stock price conditions.

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

Mirum Pharmaceuticals, Inc. incurred convertible notes of $690.0 million aggregate principal amount with U.S. Bank Trust Company, National Association at 0.00% maturing June 1, 2032.

Instrument: convertible notes
Principal: $690.0 million aggregate principal amount
Counterparty: U.S. Bank Trust Company, National Association
Rate: 0.00%
Maturity: June 1, 2032
Event: incurrence

Exact text from the filing

On May 15, 2026, Mirum Pharmaceuticals, Inc. (the “Company”) issued $690.0 million aggregate principal amount of its 0.00% Convertible Senior Notes due 2032

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

Mirum Pharmaceuticals, Inc. entered into Indenture with U.S. Bank Trust Company, National Association valued at $690.0 million (effective 2026-05-15).

Action: entry
Agreement: notes offering
Counterparty: U.S. Bank Trust Company, National Association
Value: $690.0 million
Effective: 2026-05-15

Exact text from the filing

On May 15, 2026, Mirum Pharmaceuticals, Inc. (the “Company”) issued $690.0 million aggregate principal amount of its 0.00% Convertible Senior Notes due 2032 (the “Notes”), which includes the full exercise of the initial purchasers’ option to purchase up to an additional $90.0 million aggregate principal amount of Notes. The Notes were issued pursuant to, and are governed by, an indenture (the “Indenture”), dated as of May 15, 2026, between the Company and U.S. Bank Trust Company, National Association, as trustee (the “Trustee”).

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Mirum Pharmaceuticals, Inc. filing history →

Source: SEC EDGAR

accession 0001193125-26-228902

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