Apellis exchanges $126.1 million 3.5% convertibles due 2026 for stock

By Taylor Fox

New York, Jan. 26 – Apellis Pharmaceuticals, Inc. closed its exchange transaction to trade $126.1 million of its 3.5% convertible senior notes due Sept. 15, 2026 for common stock, according to a news release.

The company exchanged 3,906,869 shares of its common stock in total, or 20.7792 shares per $1,000 principal amount of convertibles exchanged.

As previously reported, Apellis exchanged a number of shares of its stock per $1,000 of convertibles equal to the quotient of $544.07 divided by the average of the daily volume-weighted average prices of its stock over the 10 consecutive trading days beginning on Jan. 7.

Apellis Pharmaceuticals is a Waltham, Mass.-based biopharmaceutical company.

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