Latham & Watkins Advises on Adaptive Biotechnologies’ Upsized US$300 Million Convertible Senior Notes Offering

Adaptive Biotechnologies Corporation (Adaptive Biotechnologies) (Nasdaq: ADPT) has announced the pricing of its offering of US$300 million aggregate principal amount of 0% convertible senior notes due 2031 (the notes) in a private offering to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended. The offering size was increased from the previously announced offering size of US$250 million aggregate principal amount of notes. The issuance and sale of the notes are scheduled to settle on June 22, 2026, subject to customary closing conditions. Adaptive Biotechnologies also granted the initial purchasers of the notes an option to purchase, for settlement within a period of 13 days from, and including, the date the notes are first issued, up to an additional US$45 million aggregate principal amount of notes.

Latham & Watkins LLP represents the initial purchasers in the offering with a corporate team led by New York partner Michael Benjamin, New York/Los Angeles partner Greg Rodgers, Chicago partner Scott Westhoff, and New York partner Andrew Blumenthal, with associates Andrew Rutsky, Andrew Bentz, Tony Noh, Helen Zhang, and Lydia Kim. Advice was also provided on tax matters by Chicago partner Rene de Vera, with associate Jack Santoro; and on derivatives matters by New York partner Eric Rice, with associates Sloan Ungerman and Daniel Weiss.