OPKO's $121M Convertible Notes Become Convertible Through Year-End
OPK sits 60% above its 52-week low of $0.977.
Summary
OPKO's $121M convertible notes are now convertible through year-end after the stock price trigger was met. The company will settle conversions in common stock, creating potential dilution of up to ~105M shares.
Key Events · Financing and Capital Events · OPK
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Convertible Notes Triggered
Approximately $121 million of 3.75% Convertible Senior Notes due 2029 became convertible through December 31, 2026 after the stock closed above $1.495 for 20 of 30 trading days in Q3 2026.
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Share Settlement Elected
OPKO will satisfy conversion obligations in common stock rather than cash, preserving liquidity but creating potential dilution.
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Potential Dilution
At the stated ratio of 869.5652 shares per $1,000 principal, full conversion would issue approximately 105 million shares (121,000 × 869.5652), a significant increase to the share count.
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Conversion Window
Notes remain convertible through December 31, 2026, and may become convertible again in future periods if conditions are met.
Analysis · OPK · Life Sciences
OPKO Health disclosed that its 3.75% Convertible Senior Notes due 2029, with approximately $121 million outstanding, are now convertible by holders through December 31, 2026. The conversion right was triggered because the stock closed above $1.495 (130% of the $1.15 conversion price) for at least 20 of 30 trading days in Q3 2026. The company has elected to settle conversions in common stock, meaning up to roughly 105 million shares could be issued if all notes convert (121,000 × 869.5652). This creates a significant potential overhang on the stock, though actual dilution depends on how many holders elect to convert. The trigger reflects the stock's recent strength, but the share-settlement election means the company is choosing equity over cash to preserve liquidity.
How filings like this one have moved
In the 30 days to Oct 3, 2026, 29% of the 1653 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was -0.58%. 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, OPK was trading at $1.56 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $1.2B. The 52-week trading range was $0.98 to $1.75. This filing was assessed with negative market sentiment and an importance score of 7 out of 10.