---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-26-277516"
form_type: "8-K"
ticker: "ADPT"
cik: "0001478320"
company_name: "Adaptive Biotechnologies Corp"
filed_at: "2026-06-22T20:07:07+00:00"
generated_at: "2026-06-22T20:08:31.121025+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Adaptive Biotech prices $345M 0% convertible notes; repays OrbiMed, repurchases $25M stock

## Summary
- 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.

## SEC filing metadata
- accession: 0001193125-26-277516
- form_type: 8-K
- ticker: ADPT
- cik: 0001478320
- company_name: Adaptive Biotechnologies Corp
- filed_at: 2026-06-22T20:07:07+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 1.01, 1.02, 2.03, 3.02, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1478320/000119312526277516/0001193125-26-277516-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1478320/000119312526277516/d28937d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-26-277516
- JSON: https://secwatch.observer/filing/0001193125-26-277516.json
- Plain text: https://secwatch.observer/filing/0001193125-26-277516.txt

## Key facts
- Debt Financings
  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
  source text: 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”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1478320/000119312526277516/0001193125-26-277516-index.htm
- Material Agreements
  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
  source text: 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”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1478320/000119312526277516/0001193125-26-277516-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.