BridgeBio Pharma’s $650 Million Convertible Senior Notes Offering

BridgeBio Pharma's $650 Million Convertible Senior Notes Offering

Latham & Watkins LLP represented the initial purchasers in the offering while Goodwin Procter LLP advised BridgeBio Pharma on the deal.

BridgeBio Pharma, Inc. (Nasdaq: BBIO) has announced the pricing of US$650 million aggregate principal amount of 2.25% convertible senior notes due 2029 in a private offering to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended. The offering was upsized from the previously announced offering of US$400 million aggregate principal amount of notes. In connection with the offering, the Company granted the initial purchasers an option to purchase up to an additional US$97.5 million aggregate principal amount of notes. 

J.P. Morgan Securities LLC, Mizuho Securities USA LLC, Goldman Sachs & Co. LLC, Jefferies LLC, KKR Capital Markets LLC, SVB Leerink LLC, and Piper Sandler & Co. acted as initial purchasers for the offering.

Founded in 2015, BridgeBio is a team of experienced drug discoverers, developers and innovators working to create life-altering medicines that target well-characterized genetic diseases at their source. The company’s pipeline of over 20 development programs includes product candidates ranging from early discovery to late-stage development.

Latham & Watkins LLP represented the initial purchasers in the offering with a corporate deal team led by New York partner Marc Jaffe (Picture) and Bay Area partners Brian Cuneo and Phillip Stoup, with Los Angeles associate Jennifer Pesce. New York partners Greg Rodgers and Reza Mojtabaee-Zamani advised on convertible debt matters, with New York associates Jack Neff and Ariel Robbins-Rothman. Advice was also provided on tax matters by New York partner Bora Bozkurt, with associate Ronald Moore; on regulatory matters by Washington, D.C. partner Elizabeth Richards and Bay Area counsel Betty Pang, with Washington, D.C. associates Nathan Beaton and Lacey Henry; and on intellectual property matters by Bay Area/San Diego partner Chris Hazuka, with San Diego associate Robert Yeh.

Goodwin’s product team included Jim Barri, John Servidio, Tiffany Williamson, and Benjamin Drai. Goodwin’s corporate team included Mitch Bloom, Maggie Wong, Natalie Martirossian, Anitha Anne, Kyrsten Keith, and Benjamin Sneider. Dan Karelitz and Jonathan LaPlante provided tax advice.

Involved fees earner: Anitha Anne – Goodwin Procter; James Barri – Goodwin Procter; Mitchell Bloom – Goodwin Procter; Benjamin Drai – Goodwin Procter; Daniel Karelitz – Goodwin Procter; Kyrsten Keith – Goodwin Procter; Jonathan LaPlante – Goodwin Procter; Natalie Martirossian – Goodwin Procter; John Servidio – Goodwin Procter; Benjamin Sneider – Goodwin Procter; Tiffany Williamson – Goodwin Procter; Maggie Wong – Goodwin Procter; Nathan Beaton – Latham & Watkins; Bora Bozkurt – Latham & Watkins; Brian Cuneo – Latham & Watkins; Christopher Hazuka – Latham & Watkins; Lacey Henry – Latham & Watkins; Marc Jaffe – Latham & Watkins; Reza Mojtabaee-Zamani – Latham & Watkins; Ronald Moore – Latham & Watkins; Jack Neff – Latham & Watkins; Betty Pang – Latham & Watkins; Jennifer Pesce – Latham & Watkins; Elizabeth Richards – Latham & Watkins; Gregory Rodgers – Latham & Watkins; Phillip Stoup – Latham & Watkins; Robert Yeh – Latham & Watkins;

Law Firms: Goodwin Procter; Latham & Watkins;

Clients: BridgeBio Pharma LLC; Goldman Sachs & Co.; J.P. Morgan Securities LLC; Jefferies; KKR Capital Markets Limited; Mizuho Securities; Piper Sandler; SVB Leerink LLC;

Avatar

Author: Ambrogio Visconti