PTC Therapeutics Completes $550 Million Convertible Notes Offering and Repurchases Existing Debt

On June 18, 2026, PTC Therapeutics completed a private offering of $550 million in aggregate principal amount of 0.0% Convertible Senior Notes due 2031. This total includes the full exercise of the initial purchasers' option to buy an additional $50 million in notes. The notes do not bear regular interest and will mature on June 15, 2031, unless earlier converted, redeemed, or repurchased. The initial conversion price is approximately $107.48 per share. The company received approximately $535.5 million in net proceeds. PTC used approximately $328.8 million of these proceeds to repurchase $222.0 million of its existing 1.50% Convertible Senior Notes due 2026. Following this transaction, approximately $55.5 million of the 2026 notes remain outstanding. The remaining funds are earmarked for general corporate purposes, which may include further repurchases or retirement of the 2026 notes at maturity. PTC may not redeem the new 2031 notes prior to June 20, 2029, except under specific conditions related to the stock's trading price.