Halozyme Prices Upsized $1.3 Billion of 1.50% Convertible Notes Due 2033, Using Part of the Proceeds to Repurchase 2027 and 2028 Notes
Halozyme priced $1.3 billion of 1.50% convertible senior notes due 2033 on Thursday, September 17, 2026, up from the $1.05 billion originally announced. Interest is payable semi-annually, and the initial conversion rate of 7.1509 shares per $1,000 of principal equals about $139.84 per share. Halozyme plans to spend about $162.5 million on capped call transactions, about $217.0 million to repurchase $151.7 million of its 2027 notes, and about $435.5 million to repurchase $220.0 million of its 2028 notes, with the rest for general corporate purposes including potential acquisitions. Closing was expected on September 22, 2026. Halozyme's ENHANZE drug delivery technology is used in ten commercialized products and is licensed to companies including Roche, Takeda, Pfizer, Janssen, AbbVie, Eli Lilly, Bristol Myers Squibb, and argenx.