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.

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