Travere Therapeutics, Inc. has announced the pricing of its underwritten offering of US$275 million aggregate principal amount of 2.25% convertible senior notes due 2029. The sale of the Notes is expected to close on March 11, 2022, subject to customary closing conditions. The aggregate principal amount of the offering was increased from the previously announced offering size of US$250 million. Travere also granted the underwriters of the Notes an option to purchase, for settlement on or before March 31, 2022, up to an additional US$41.25 million aggregate principal amount of Notes, solely to cover over-allotments.
Latham & Watkins LLP represents the underwriters in the offering with a corporate team led by San Diego partners Cheston Larson and Matthew Bush, and San Diego counsel Anthony Gostanian, with San Diego associates Rachel Staub and Giannina Marciano. Advice was provided on convertible debt matters by New York/Los Angeles partner Greg Rodgers and Los Angeles partner Arash Aminian Baghai, with Los Angeles/Century City associate Steven Schmulenson; and on tax matters by New York partner Bora Bozkurt.
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