Adaptive Biotechnologies Corporation issued $345 million in 0% convertible senior notes due 2031, generating approximately $334.5 million in net proceeds. The company used $156.9 million to repay the OrbiMed Purchase Agreement and $25.0 million to repurchase 1,451,800 shares of common stock. Adaptive Biotechnologies is a biotechnology company that develops immune system-based technologies for clinical and research use.
