Financing ·
Ligand Pharmaceuticals completes $700M private offering of zero-coupon convertible notes due 2031, uses proceeds for hedges and stock repurchases
LGNDLigand Pharmaceuticals Inc
Ligand Pharmaceuticals Incorporated completed a $700.0 million private offering of 0.00% Convertible Senior Notes due 2031 on June 25, 2026. The company used $72.9 million of net proceeds for convertible note hedge transactions and $60.0 million to repurchase 228,859 shares of common stock at $262.17 per share. Ligand Pharmaceuticals is a biotechnology company that provides contract research and licensing services.