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Travere Prices Upsized $475.0 Million Convertible Senior Notes Offering to Refinance 2029 Convertible Notes
SAN DIEGO, May 07, 2026--Travere Therapeutics, Inc. (Nasdaq: TVTX) today announced the pricing of its underwritten offering of $475.0 million aggregate principal amount of 0.50% convertible senior notes due 2032 (the "Notes"). The sale of the Notes is expected to close on May 11, 2026, subject to customary closing conditions. The aggregate principal amount of the offering was increased from the previously announced offering size of $400.0 million. Travere also granted the underwriters of the Not
About this update from Travere Therapeutics, Inc.
[{"type":"image","alt":"","displaySize":"","headline":null,"caption":"","credit":null,"className":"","disableSlideshowImg":false,"size":{"original":{"width":1604,"height":352,"url":"https://media.zenfs.com/en/business-wire.com/daed32cbc49db1a0d6ed2a64c008c434"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/pIILQ5Q4TtX8A3MbEnwg0Q--/YXBwaWQ9aGlnaGxhbmRlcjt3PTk2MDtoPTIxMQ--/https://media.zenfs.com/en/business-wire.com/daed32cbc49db1a0d6ed2a64c008c434","width":960,"height":211},"lightbox":{"url":"https://s.yimg.com/ny/api/res/1.2/4U_nXkceiwu747VJ4xSATw--/YXBwaWQ9aGlnaGxhbmRlcjt3PTI0MDA7aD01MjY-/https://media.zenfs.com/en/business-wire.com/daed32cbc49db1a0d6ed2a64c008c434","width":1200,"height":263}},"lazy":false},{"type":"text","content":"SAN DIEGO, May 07, 2026--(BUSINESS WIRE)--Travere Therapeutics, Inc. (Nasdaq: TVTX) today announced the pricing of its underwritten offering of $475.0 million aggregate principal amount of 0.50% convertible senior notes due 2032 (the "Notes"). The sale of the Notes is expected to close on May 11, 2026, subject to customary closing conditions. The aggregate principal amount of the offering was increased from the previously announced offering size of $400.0 million. Travere also granted the underwriters of the Notes a 30-day option to purchase up to an additional $50.0 million aggregate principal amount of Notes, solely to cover over-allotments. As described in more detail below, Travere intends to use a portion of the net proceeds from the offering to repurchase a portion of its currently outstanding convertible notes.","length":839,"tagName":"p"},{"type":"text","content":"The Notes will be senior unsecured obligations of Travere and will accrue interest payable in cash semi-annually in arrears at a rate of 0.50% per annum. The Notes will mature on May 15, 2032, unless earlier repurchased, redeemed or converted. Prior to the close of business on the business day immediately preceding February 17, 2032, the Notes will be convertible at the option of the holders only upon the satisfaction of certain conditions. Thereafter, the Notes will be convertible at the option of the holders at any time until the close of business on the second scheduled trading day immediately before the maturity date. Upon conversion, Travere will pay or deliver, as the case may be, cash, shares of its common stock or a combination of ca...