Gossamer Bio exchange offer closes with $18.9M in notes remaining

Gossamer Bio, Inc. (NASDAQ: GOSS) announced the final results of its exchange offer for its existing 5.00% Convertible Senior Notes due 2027, with $18,948,000 in aggregate principal amount of those notes remaining outstanding after the offer's conclusion.

As of 5:00 p.m. New York time on June 2, 2026, $181,052,000 in aggregate principal amount of the existing notes had been validly tendered. The company and required supporting noteholders agreed to lower the minimum tender condition from 98% to 90.5% of the aggregate principal amount. Early settlement occurred on June 4, 2026.

No additional notes were tendered by the final deadline of 5:00 p.m. New York time on June 16, 2026, according to exchange agent D.F. King & Co., Inc.

Under the exchange offer, tendered notes were exchanged for a pro rata portion of up to $72.0 million in new 7.50% Convertible Senior Secured First Lien Notes due 2030, up to 317,647,058 shares of common stock or prefunded warrants, and purchase warrants for eligible holders who tendered before the extended early tender date.

Following early settlement, the company entered into a supplemental indenture eliminating substantially all restrictive covenants, certain events of default, and related provisions in the indenture governing the existing notes.

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