---
schema_version: "secwatch.filing_event.v1"
accession: "0001437749-24-001007"
form_type: "8-K"
ticker: "OPK"
cik: "0000944809"
company_name: "OPKO HEALTH, INC."
filed_at: "2024-01-09T23:59:59+00:00"
generated_at: "2026-06-07T01:48:20.323376+00:00"
event_type: "debt"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# OPKO Health closes $301M convertible note offering, repurchases stock and existing debt

## Summary
- Issued $230M of 144A Notes and $71.1M of Affiliate Notes (3.75% due 2029); net proceeds $221.4M from 144A.
- Used $50M to repurchase ~55.1M shares of common at $0.9067/sh; used $146.3M to retire $144.4M of 4.50% notes due 2025.
- Retired $55M of existing 5% convertible notes (plus $16.1M accrued interest) via exchange for Affiliate Notes.
- Conversion price initially $1.15/share; notes mature Jan 15, 2029; holders may convert under specified conditions.
- Affiliate purchasers include CEO Phillip Frost (Frost Gamma Investments) and Vice-Chair Jane H. Hsiao.

## SEC filing metadata
- accession: 0001437749-24-001007
- form_type: 8-K
- ticker: OPK
- cik: 0000944809
- company_name: OPKO HEALTH, INC.
- filed_at: 2024-01-09T23:59:59+00:00
- event_type: debt
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 1.02, 2.03, 3.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/944809/000143774924001007/0001437749-24-001007-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/944809/000143774924001007/opk20240108_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-24-001007
- JSON: https://secwatch.observer/filing/0001437749-24-001007.json
- Plain text: https://secwatch.observer/filing/0001437749-24-001007.txt

## Key facts
- Material Agreements
  OPKO HEALTH, INC. terminated 4.50% Convertible Senior Notes due 2025 with certain holders of the Company’s outstanding 4.50% Convertible Senior Notes due 2025 valued at Repurchase and retirement of approximately $144.4 million aggregate principal amount (effective 2024-01-09).
  - Action: termination
  - Agreement: notes offering
  - Counterparty: certain holders of the Company’s outstanding 4.50% Convertible Senior Notes due 2025
  - Value: Repurchase and retirement of approximately $144.4 million aggregate principal amount
  - Effective: 2024-01-09
  source text: Also, contemporaneously with the pricing of the 144A Notes, the Company entered into separate, privately negotiated transactions with certain holders of the Company’s outstanding 4.50% Convertible Senior Notes due 2025 to repurchase, on the Closing Date, approximately $144.4 million aggregate principal amount of such notes, all of which notes were retired by the Company upon its acquisition thereof.
  evidence_url: https://www.sec.gov/Archives/edgar/data/944809/000143774924001007/0001437749-24-001007-index.htm
- Material Agreements
  OPKO HEALTH, INC. entered into 144A Note Purchase Agreement and Affiliate Note Purchase Agreement with J.P. Morgan Securities LLC and Affiliate Purchasers (Frost Gamma Investments Trust and Jane H. Hsiao) valued at $301.1 million aggregate principal amount of 3.75% Convertible Senior Notes due 2029 ($230 million 1 (effective 2024-01-09).
  - Action: entry
  - Agreement: notes offering
  - Counterparty: J.P. Morgan Securities LLC and Affiliate Purchasers (Frost Gamma Investments Trust and Jane H. Hsiao)
  - Value: $301.1 million aggregate principal amount of 3.75% Convertible Senior Notes due 2029 ($230 million 1
  - Effective: 2024-01-09
  source text: On January 9, 2024 (the “ Closing Date ”), OPKO Health, Inc., a Delaware corporation (the “ Company ”), completed its previously announced private offering of $230.0 million aggregate principal amount of its 3.75% Convertible Senior Notes due 2029 (the “ 144A Notes ”) in accordance with the terms of a note purchase agreement (the “ 144A Note Purchase Agreement ”) entered into on January 4, 2024 by and between by the Company and J.P. Morgan Securities LLC (the “ Initial Purchaser ”). The $230.0 million aggregate principal amount of 144A Notes includes $30.0 million aggregate principal amount of 144A Notes purchased on the Closing Date by the Initial Purchaser in accordance with its exercise in full of its option to purchase additional 144A Notes under the 144A Note Purchase Agreement. Additionally, on the Closing Date, the Company issued and sold approximately $71.1 million aggregate principal amount of its 3.75% Convertible Senior Notes due 2029 (the “ Affiliate Notes ” and, together
  evidence_url: https://www.sec.gov/Archives/edgar/data/944809/000143774924001007/0001437749-24-001007-index.htm

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