---
schema_version: "secwatch.filing_event.v1"
accession: "0001867096-23-000125"
form_type: "8-K"
ticker: "XERS"
cik: "0001867096"
company_name: "Xeris Biopharma Holdings, Inc."
filed_at: "2023-09-29T23:59:59+00:00"
generated_at: "2026-06-10T07:07:56.315985+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.55
calibrated_materiality_score: 0.55
confidence: "high"
source: SEC EDGAR
---

# Xeris Biopharma exchanges $32M of 5% convertible notes for $33.6M of new 8% notes due 2028

## Summary
- Exchanged $31,975,000 of 5% Convertible Senior Notes due 2025 for $33,574,000 of new 8.00% Convertible Senior Notes due 2028.
- New notes bear 8.00% interest, payable semi-annually; maturity July 15, 2028.
- Initial conversion rate is 326.7974 shares per $1,000 principal, implying ~$3.06 per share.
- Notes are senior unsecured, guaranteed by Xeris Pharmaceuticals, issued to QIBs via Section 4(a)(2) exemption.
- Company may redeem notes after July 20, 2026 if stock price exceeds 130% of conversion price for 20 of 30 trading days.

## SEC filing metadata
- accession: 0001867096-23-000125
- form_type: 8-K
- ticker: XERS
- cik: 0001867096
- company_name: Xeris Biopharma Holdings, Inc.
- filed_at: 2023-09-29T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.55
- calibrated_materiality_score: 0.55
- confidence: high
- sec_items: 1.01, 2.03, 3.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1867096/000186709623000125/0001867096-23-000125-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1867096/000186709623000125/xers-20230929.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001867096-23-000125
- JSON: https://secwatch.observer/filing/0001867096-23-000125.json
- Plain text: https://secwatch.observer/filing/0001867096-23-000125.txt

## Key facts
- Debt Financings
  Xeris Biopharma Holdings, Inc. incurred convertible notes of $33,574,000 with qualified institutional buyers at 8.00% per annum maturing July 15, 2028.
  - Instrument: convertible notes
  - Principal: $33,574,000
  - Counterparty: qualified institutional buyers
  - Rate: 8.00% per annum
  - Maturity: July 15, 2028
  - Event: incurrence
  source text: Xeris Biopharma Holdings, Inc., a Delaware corporation (the “ Company ”), and Xeris Pharmaceuticals, Inc., a Delaware corporation and a wholly owned subsidiary of the Company (the “ Guarantor ”), closed the previously announced exchange of $31,975,000 in aggregate principal amount of the Guarantor’s 5.00% Convertible Senior Notes due 2025 (the “ Existing Notes ”) for $33,574,000 in aggregate principal amount of the Company’s new 8.00% Convertible Senior Notes due 2028 (the “ New Notes ”) (the “ Exchange Transactions ”)
  evidence_url: https://www.sec.gov/Archives/edgar/data/1867096/000186709623000125/0001867096-23-000125-index.htm
- Material Agreements
  Xeris Biopharma Holdings, Inc. entered into Indenture for 8.00% Convertible Senior Notes due 2028 with U.S. Bank Trust Company, National Association valued at $33,574,000 in aggregate principal amount of 8.00% Convertible Senior Notes due 2028 (effective 2023-09-29).
  - Action: entry
  - Agreement: notes offering
  - Counterparty: U.S. Bank Trust Company, National Association
  - Value: $33,574,000 in aggregate principal amount of 8.00% Convertible Senior Notes due 2028
  - Effective: 2023-09-29
  source text: On September 29, 2023, Xeris Biopharma Holdings, Inc., a Delaware corporation (the " Company "), and Xeris Pharmaceuticals, Inc., a Delaware corporation and a wholly owned subsidiary of the Company (the " Guarantor "), closed the previously announced exchange of $31,975,000 in aggregate principal amount of the Guarantor’s 5.00% Convertible Senior Notes due 2025 (the " Existing Notes ") for $33,574,000 in aggregate principal amount of the Company’s new 8.00% Convertible Senior Notes due 2028 (the " New Notes ") (the " Exchange Transactions "), in each case, pursuant to the exemption from registration provided by Section 4(a)(2) under the Securities Act of 1933, as amended (the " Securities Act ").
  evidence_url: https://www.sec.gov/Archives/edgar/data/1867096/000186709623000125/0001867096-23-000125-index.htm

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