Crispr Therapeutics announces proposed convertible senior notes offering

CRISPR Therapeutics (CRSP) announced its intention to offer, subject to market conditions and other factors, $350M aggregate principal amount of its convertible senior notes due 2031 in a private offering to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended. The Company also expects to grant the initial purchasers of the notes an option to purchase, for settlement within a period of 13 days from, and including, the date the notes are first issued, up to an additional $52.5M aggregate principal amount of the notes. The notes will be senior, unsecured obligations of the Company and will accrue interest payable semiannually in arrears on March 1 and September 1 of each year, beginning on September 1, 2026. The notes will mature on March 1, 2031, unless earlier converted, redeemed or repurchased. Upon conversion, the Company will deliver common shares, nominal value CHF 0.03 per share. The interest rate, initial conversion rate and other terms of the notes will be determined at the pricing of the offering. The Company intends to use the net proceeds from the offering for general corporate purposes.