Halozyme Prices Upsized $1.3B Convertible Notes at 27.5% Premium with Capped Calls
HALO sits 79% above its 52-week low of $61.225.
Summary
Halozyme priced a $1.3 billion convertible senior notes offering due 2033, upsized from $1.05 billion, with a 27.5% conversion premium and capped call transactions to reduce dilution. The offering closed on September 22, 2026, with the full $200 million option exercised, bringing the total principal amount to $1.5 billion.
Updated with an SEC 8-K filing · What changed
Updates
· SEC 8-K — The offering closed on September 22, 2026, with the full $200M option exercised, bringing the total principal amount to $1.5B. Net proceeds were approximately $1.471B after deducting discounts, commissions, and estimated expenses, with about $187.5M used for capped call transactions.
Key Events · Financing and Capital Events · HALO
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Updated · · SEC 8-K
Upsized $1.5B Convertible Notes Priced and Closed
Offering increased from $1.05B to $1.3B aggregate principal amount of 1.50% convertible senior notes due 2033, with a 13-day option for an additional $200M. The full $200M option was exercised, bringing the total principal amount to $1.5B, and the offering closed on September 22, 2026.
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Updated · · SEC 8-K
Proceeds Retire Existing Convertible Debt; Net Proceeds $1.471B
Approximately $217.0M will repurchase 2027 Notes and $435.5M will repurchase 2028 Notes, extending the maturity profile. Net proceeds were initially estimated at approximately $1.275B, but after the full option exercise and closing, net proceeds totaled approximately $1.471B after deducting discounts, commissions, and estimated expenses, with about $187.5M used for capped call transactions.
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Updated · · SEC 8-K
Offering Closed September 22
The offering closed on September 22, 2026, subject to customary closing conditions.
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Conversion Terms Set at 27.5% Premium
Initial conversion rate of 7.1509 shares per $1,000 principal equates to a conversion price of approximately $139.84, a 27.5% premium to the $109.68 closing price on September 17, 2026.
Analysis · HALO · Life Sciences
Halozyme finalized terms on a $1.3 billion convertible notes offering — upsized from the $1.05 billion proposed two days earlier — with a conversion price of $139.84, a 27.5% premium to the September 17 close. The company is using roughly $652 million of the proceeds to retire existing 2027 and 2028 convertible notes, extending its maturity profile while adding capped call transactions that limit dilution up to a $208.39 cap price. Net proceeds of about $1.275 billion strengthen an already cash-generative balance sheet, but the deal adds potential share overhang if the stock runs above the conversion price. The offering closed on September 22, 2026, with the full $200 million option exercised, bringing the total principal amount to $1.5 billion and net proceeds to approximately $1.471 billion, of which about $187.5 million was used for capped call transactions.
How filings like this one have moved
In the 30 days to Oct 19, 2026, 37.9% of the 895 measured filings Wiseek scored 8 moved their stock by 5% or more by the next session's close. The median move was -0.87%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, HALO was trading at $109.69 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $12.4B. The 52-week trading range was $61.23 to $111.15. This filing was assessed with neutral market sentiment and an importance score of 8 out of 10.