---
schema_version: "secwatch.filing_event.v1"
accession: "0001297184-23-000074"
form_type: "8-K"
ticker: "AMPH"
cik: "0001297184"
company_name: "Amphastar Pharmaceuticals, Inc."
filed_at: "2023-09-15T23:59:59+00:00"
generated_at: "2026-06-10T16:03:13.290957+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Amphastar issues $345M 2% convertible senior notes due 2029; repays $200M term loan, buys $50M stock

## Summary
- $345M aggregate principal (incl. $45M greenshoe exercised) of 2.00% convertible senior notes due 2029, sold via Rule 144A.
- Initial conversion price ~$62.96 per share, a 35% premium to $46.64 closing price on Sept 12, 2023.
- Net proceeds ~$333.9M; $200M used to repay Wells Fargo credit facility, $50M for stock buyback at $46.64/share.
- Notes convertible under certain conditions; company may redeem on/after Sep 21, 2026 if stock >=130% of conversion price.
- Remaining proceeds earmarked for general corporate purposes, including BAQSIMI milestone payments and potential M&A.

## SEC filing metadata
- accession: 0001297184-23-000074
- form_type: 8-K
- ticker: AMPH
- cik: 0001297184
- company_name: Amphastar Pharmaceuticals, Inc.
- filed_at: 2023-09-15T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 1.01, 2.03, 3.02, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1297184/000129718423000074/0001297184-23-000074-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1297184/000129718423000074/amph-20230911x8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001297184-23-000074
- JSON: https://secwatch.observer/filing/0001297184-23-000074.json
- Plain text: https://secwatch.observer/filing/0001297184-23-000074.txt

## Key facts
- Debt Financings
  Amphastar Pharmaceuticals, Inc. incurred senior notes of $300.0 million aggregate principal amount with Jefferies LLC, J.P. Morgan Securities LLC, Wells Fargo Securities, LLC and BofA Securities, Inc., as representatives of the several initial purchasers at 2.00% per annum maturing March 15, 2029.
  - Instrument: senior notes
  - Principal: $300.0 million aggregate principal amount
  - Counterparty: Jefferies LLC, J.P. Morgan Securities LLC, Wells Fargo Securities, LLC and BofA Securities, Inc., as representatives of the several initial purchasers
  - Rate: 2.00% per annum
  - Maturity: March 15, 2029
  - Event: incurrence
  source text: Morgan Securities LLC, Wells Fargo Securities, LLC and BofA Securities, Inc., as representatives of the several initial purchasers (the “Initial Purchasers”), to issue and sell $300.0 million aggregate principal amount of 2.00% Convertible Senior Notes due 2029 (the “Notes”). In addition, the Company granted the Initial Purchasers an option to purchase, for settlement
  evidence_url: https://www.sec.gov/Archives/edgar/data/1297184/000129718423000074/0001297184-23-000074-index.htm
- Debt Financings
  Amphastar Pharmaceuticals, Inc. incurred senior notes of up to an additional $45.0 million aggregate principal amount of Notes.
  - Instrument: senior notes
  - Principal: up to an additional $45.0 million aggregate principal amount of Notes
  - Event: incurrence
  source text: Initial Purchasers an option to purchase, for settlement during a 13-day period beginning on, and including, the date on which the Notes were first issued, up to an additional $45.0 million aggregate principal amount of Notes on the same terms and conditions. The Initial Purchasers exercised their option in full on September 14, 2023, bringing the total aggregate
  evidence_url: https://www.sec.gov/Archives/edgar/data/1297184/000129718423000074/0001297184-23-000074-index.htm
- Material Agreements
  Amphastar Pharmaceuticals, Inc. entered into Purchase Agreement with Jefferies LLC, J.P. Morgan Securities LLC, Wells Fargo Securities, LLC and BofA Securities, Inc., as representatives of the several initial purchasers valued at $300.0 million aggregate principal amount of 2.00% Convertible Senior Notes due 2029 (effective 2023-09-12).
  - Action: entry
  - Agreement: notes offering
  - Counterparty: Jefferies LLC, J.P. Morgan Securities LLC, Wells Fargo Securities, LLC and BofA Securities, Inc., as representatives of the several initial purchasers
  - Value: $300.0 million aggregate principal amount of 2.00% Convertible Senior Notes due 2029
  - Effective: 2023-09-12
  source text: On September 12, 2023, Amphastar Pharmaceuticals, Inc. (the “Company”) entered into a purchase agreement (the “Purchase Agreement”) with Jefferies LLC, J.P. Morgan Securities LLC, Wells Fargo Securities, LLC and BofA Securities, Inc., as representatives of the several initial purchasers (the “Initial Purchasers”), to issue and sell $300.0 million aggregate principal amount of 2.00% Convertible Senior Notes due 2029 (the “Notes”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1297184/000129718423000074/0001297184-23-000074-index.htm

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