In Vivo is part of Pharma Intelligence UK Limited
This site is operated by Pharma Intelligence UK Limited, a company registered in England and Wales with company number 13787459 whose registered office is 5 Howick Place, London SW1P 1WG. The Pharma Intelligence group is owned by Caerus Topco S.à r.l. and all copyright resides with the group.
Insmed nets $435.8mm through sale of convertible debt
26 Jan 2018
Respiratory disease-focused Insmed Inc. netted $435.8mm (including the overallotment) through an underwritten public offering of 1.75% convertible senior notes due 2025. The notes covert to common at a rate of 25.5384 shares per $1k principal amount, or $39.16 per share. (The company's stock averaged $30.20 at the time of the sale.) Upon conversion, holders of the notes will receive Insmed shares, cash, or a combination of the two at Insmed’s election. The company will use the funds for ongoing development and regulatory and commercial activities for its lead compound amikacin liposome inhalation suspension (ALIS) for patients with nontuberculous mycobacteria lung disease caused by Mycobacterium avium complex. Proceeds will also support development of additional programs and for potential acquisitions or licensing opportunities.
Already a Biomedtracker subscriber?You have access to the full deal record through your subscription
Want to become a subscriber?Subscribers get more deal details, updates, deal financials and deal products.Questions?