Cytokinetics, Incorporated, a late-stage biopharmaceutical company, has announced the pricing of its offering of US$450 million aggregate principal amount of 3.5% convertible senior notes due 2027 in a private offering to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933. The issuance and sale of the notes settled on July 6, 2022. In addition, the initial purchasers of the notes exercised their option to purchase an additional US$90 million aggregate principal amount of notes.
Latham & Watkins LLP represented the initial purchasers in the offering with a corporate team led by partners Greg Rodgers and Michael Sullivan, with associates Julian Brody, Rachel Staub, and Emilie McConnachie. Along with Greg Rodgers, advice was provided on convertible debt matters by associates Andrew Blumenthal and Ryan Gold; on tax matters by partner Bora Bozkurt, with associate Kathryn Harrington; on healthcare & life sciences matters by partner Elizabeth Richards and counsel Betty Pang, with associate Chad Jennings; and on IP matters by partner Steve Chinowsky and counsel Darryl Steensma, with associate Rob Yeh.