HRTX - Heron Therapeutics completes $150 million convertible debt financing

Heron Therapeutics ([[HRTX]] -0.1%) announced the sale of $150 million of senior unsecured convertible promissory notes in a private placement.The notes due June 01, 2026, will carry an interest rate of 1.5% per annum payable semiannually.The senior, unsecured obligations are convertible to common shares of Heron at a conversion price of $15.276 per share indicating a premium of ~13% to the most recent closing price of Heron shares.The proceeds will be utilized for the launch of ZYNRELEF (bupivacaine and meloxicam) extended-release solution and general working capital, the company said, adding “holders will have the right to convert their Notes at any time.”In May, the company announced the FDA approval for ZYNRELEF. Its full commercial availability was expected by July 2021, Barry Quart CEO of Heron said at the time.

For further details see:

Heron Therapeutics completes $150 million convertible debt financing