PTC Therapeutics Prices $500 Million Convertible Senior Notes Offering to Refinance 2026 Notes

On June 15, 2026, PTC Therapeutics announced the pricing of a private offering of $500.0 million aggregate principal amount of 0.00% Convertible Senior Notes due 2031. The company also granted initial purchasers an option to purchase up to an additional $50.0 million in notes. The notes will not bear regular interest and are set to mature on June 15, 2031, unless earlier converted, repurchased, or redeemed. The initial conversion price is approximately $107.48 per share, representing a 40% premium over the June 15, 2026, closing price of $76.77. PTC estimates net proceeds of approximately $486.8 million. The company intends to use approximately $328.8 million of these proceeds to repurchase $222.0 million of its outstanding 1.5% Convertible Senior Notes due 2026 through privately negotiated transactions. The remaining funds are earmarked for general corporate purposes, including potential further repurchases or retirement of the 2026 Notes at maturity. The offering is expected to close on June 18, 2026.