Omeros Corporation announced on May 9, 2025, that it entered into exchange agreements to acquire $80.5 million aggregate principal amount of its 5.25% Convertible Senior Notes due 2026. This strategic financial maneuver aims to extend debt maturities and improve the company's liquidity.
Under the agreements, $70.5 million of the 2026 Convertible Notes will be exchanged for newly issued 9.50% Convertible Senior Notes due 2029. Additionally, $10 million aggregate principal amount of 2026 Convertible Notes will be converted into shares of the company’s common stock by September 15, 2025.
These transactions are expected to reduce Omeros’ outstanding debt by $10.0 million and significantly lower its potential debt repayment obligations over the next 12 months from $117.9 million to approximately $17.4 million. This also prevents a $20.0 million mandatory prepayment of the term loan that would have been due in November 2025.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.