Ligand prices upsized USD 625 million zero-coupon convertible senior notes due 2031

Ligand Pharmaceuticals Incorporated

LGND

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Ligand priced an upsized USD 625 million private offering of 0.0% convertible senior notes due 2031; closing expected June 25.
Notes carry no regular interest; initial purchasers hold a 13-day option for up to an additional USD 75 million.
Net proceeds estimated at about USD 605.3 million; about USD 72.9 million earmarked for call spread costs.
About USD 60 million allocated to repurchase 228,859 shares at USD 262.17 each in concurrent private transactions.
Initial conversion price set at about USD 334.27 per share; warrant strike price set at USD 524.34.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Ligand Pharmaceuticals Inc. published the original content used to generate this news brief via GlobeNewswire (Ref. ID: 202606230400PRIMZONEFULLFEED9750917) on June 23, 2026, and is solely responsible for the information contained therein.

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