CRISPR Therapeutics Plans $350 Mln Convertible Senior Notes Offering

CRISPR Therapeutics

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(RTTNews) - CRISPR Therapeutics AG (CRSP), on Tuesday said it intends to offer $350 million aggregate principal amount of convertible senior notes due 2031 in a private placement.

The company said that the initial purchasers will have a 13-day option to buy up to an additional $52.5 million aggregate principal amount of the notes.

The notes will be senior unsecured obligations and will mature on March 1, 2031, unless earlier converted, redeemed, or repurchased.

Interest will be payable semiannually on March 1 and September 1 each year beginning September 1.

The company intends to use the net proceeds from the offering for general corporate purposes.

In the pre-market trading, CRSP is 8.23% lesser at $53.94 on the Nasdaq.