Omeros Shares Fall on Plans to Acquire Some Convertible Notes

Omeros shares fell as much as 28%, the most since October 2023, after the biopharmaceutical company agreed to acquire $80.5 million of its convertible senior notes due 2026.

• Company agreed with holders to exchange, on a one-for-one basis, $70.5 million aggregate principal amount of the 2026 convertible notes for newly issued 9.50% Convertible Senior Notes due 2029, with a conversion rate set at a 35% premium
• Company agreed with an investor to convert $10 million aggregate principal amount of 2026 convertible notes into shares of common stock, par value 1c per share
• After closing, $17.4 million of the 2026 convertible ...