secwatch.observer — SEC 8-K summary
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Issuer:     Adaptive Biotechnologies Corp (ADPT)
CIK:        0001478320
Form:       8-K
Filed at:   2026-06-22T20:07:07+00:00
Accession:  0001193125-26-277516
Event type: debt
Sentiment:  neutral
Materiality: 0.80
Item codes: 1.01, 1.02, 2.03, 3.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1478320/000119312526277516/0001193125-26-277516-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1478320/000119312526277516/d28937d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-26-277516

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer