Travere raises $525M via convertible notes, using $351M to repurchase existing 2029 debt

Filed May 11, 2026 · Period ending May 6, 2026 · ~1 min read

Key Changes

• high

  Completed $525M offering of 0.50% convertible senior notes due 2032, convertible at $64.90/share (15.4 shares per $1,000 note). Conversion allowed when stock trades above $84.37 for 20 of 30 days, creating potential dilution if stock rises significantly.

  Item 1.01 verify on EDGAR →
• high

  Net proceeds of ~$508.5M will fund $350.9M repurchase of existing 2029 convertible notes ($221.4M principal plus accrued interest), with remainder for commercialization, R&D, and working capital. Debt refinancing extends maturity and reduces interest rate.

  Item 8.01 verify on EDGAR →
• medium

  Notes cannot be redeemed before May 2029; after that, only if stock exceeds $84.37 for 20 of 30 days and at least $75M notes remain outstanding. Limits company's flexibility to retire debt early unless stock performs well.

  Item 1.01 verify on EDGAR →