The offering, directed toward qualified institutional buyers, carries a conversion price of $107.48 per share. This represents a 40% premium over the company’s closing stock price of $76.77 on June 15, 2026. PTC has also granted initial purchasers an option to acquire an additional $50 million in notes within a 13-day window following the initial issuance, which is expected to close on June 18, 2026.
PTC Therapeutics Prices $500 Million Debt Offering to Refinance Notes
PTC Therapeutics is restructuring its debt obligations, announcing the pricing of $500 million in zero-interest convertible senior notes due in 2031. The New Jersey-based biopharmaceutical firm intends to use the capital to retire a portion of its existing 1.5% notes maturing in 2026, effectively extending its debt maturity profile.
Management plans to allocate approximately $328.8 million of the net proceeds to repurchase $222 million in aggregate principal of its 2026 convertible notes. Any remaining funds will be directed toward general corporate purposes, including potential future buybacks of the remaining 2026 debt. While the notes do not bear regular interest, holders gain conversion rights starting in March 2031, with PTC retaining the option to settle conversions in cash, common stock, or a combination of both.
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