Adaptive Biotechnologies Corp (ADPT): debt financing — Adaptive Biotech prices $345M 0% convertible notes; repays OrbiMed, repurchases $25M stock

Adaptive Biotechnologies Corp

Issued $345M 0% convertible notes due 2031; net proceeds ~$334.5M after discounts and expenses.
Used $25.6M for capped call transactions and $25M to repurchase 1.45M shares of common stock.
Used $156.9M to repay OrbiMed Purchase Agreement (original $124.4M, payoff at 156% cap).
Conversion price $24.11 (40% premium over $17.22 close); cap price $34.44 (100% premium).
Remaining net proceeds for general corporate purposes and opportunistic MRD initiatives.

item 1.01 item 1.02 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

Adaptive Biotechnologies Corp incurred senior notes of $345 million with U.S. Bank Trust Company, National Association at 0% maturing July 1, 2031.

Instrument: senior notes
Principal: $345 million
Counterparty: U.S. Bank Trust Company, National Association
Rate: 0%
Maturity: July 1, 2031
Event: incurrence

Exact text from the filing

On June 22, 2026, Adaptive Biotechnologies Corporation (the “Company”) issued $345 million in aggregate principal amount of 0% Convertible Senior Notes due 2031 (the “Notes”).

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

Adaptive Biotechnologies Corp entered into Indenture with U.S. Bank Trust Company, National Association valued at $345 million (effective 2026-06-22).

Action: entry
Agreement: notes offering
Counterparty: U.S. Bank Trust Company, National Association
Value: $345 million
Effective: 2026-06-22

Exact text from the filing

The Company issued the Notes pursuant to an indenture (the “Indenture”), dated as of June 22, 2026, between the Company and U.S. Bank Trust Company, National Association, as trustee (the “Trustee”).

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

Adaptive Biotechnologies Corp filing history →

Source: SEC EDGAR

accession 0001193125-26-277516

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