Omeros Corporation (Omeros), a commercial-stage biopharmaceutical company, has announced that it has priced concurrent underwritten public offerings of 6,900,000 of shares of its common stock (the Shares) at a public offering price of US$14.50 per Share for proceeds of approximately US$100.05 million prior to the deduction of underwriting discounts and commissions and estimated offering expenses payable by Omeros (the Equity Offering), and US$210 million aggregate principal amount of 5.25% convertible senior notes due 2026 (the 2026 Convertible Notes and such offering, the Notes Offering). In addition, Omeros has granted to the underwriters of the Equity Offering a 30-day option to purchase up to an additional 1,035,000 Shares and to the underwriters of the Notes Offering a 30-day option, solely to cover over-allotments, to purchase up to an additional US$31.5 million aggregate principal amount of 2026 Convertible Notes. The Equity Offering and the Notes Offering are each expected to close on August 14, 2020, subject to customary closing conditions. Neither offering is contingent on the completion of the other offering.

Latham & Watkins LLP represented the underwriters in the offerings with a capital markets team led by New York partner Nathan Ajiashvili and San Diego partner Michael Sullivan, with associates Dennis Griffin, Michael Johnson, and Irene Fedoseienko. Advice was also provided on convertible debt matters by New York partner Greg Rodgers, with Los Angeles counsel Arash Aminian Baghai and associate Ryan Gold; on equity derivatives matters by New York partner Reza Mojtabaee-Zamani and associate Marc Langer; and on tax matters by New York partner Bora Bozkurt, with associate Michael Yu.