BUZZ-Halozyme Therapeutics hits new record after issuing $1.3 billion in convertible bonds
路透社2026/09/18 14:51September 18 - ** Halozyme Therapeutics (HALO.O) shares rose 0.8% to $110.55 on Friday, reaching a record high after the company raised more funds than originally planned
** HALO shares climbed as much as 1.9% to $111.80, surpassing the previous intraday high of $111.15 set on September 3
** The San Diego, California-based drug delivery company announced late Thursday the pricing (link) of an upsized $1.3 billion private placement of convertible bonds (CBs) with a 1.5% coupon, due October 1, 2033
** The $139.84 conversion price is a 27.5% premium to Thursday's closing price of $109.68
** On Thursday, HALO shares closed up 1% after the company (link) announced a $105 million bond offering to repurchase its outstanding 0.25% convertible bonds due 2027 and 1% convertible bonds due 2028; the remaining funds will be used for working capital, capital expenditures, potential acquisitions and other purposes
** The company expects to use about $162.6 million of the raised funds for "capped call transactions" to mitigate potential equity dilution; the cap price of $209.39 represents a 90% premium to the previous trading day's closing price
** HALO has surged 64% so far this year
** According to London Stock Exchange Group (LSEG) data, the average rating from 10 analysts is "Buy"; the median target price is $105, up from $90 on June 18
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