December 15, 2021 2:17pm

Yesterday, GBT was down -$3.35 or -11.55% and up on Wednesday +$0.018 or +0.72%

GBT shares are up 9.32% or +$2.32 at $26.22 (2:15 p.m.) Wednesday

The notes will be senior, unsecured obligations of GBT and will bear interest at a rate of 1.875% per year, payable semi-annually in arrears on June 15 and December 15 of each year, beginning on June 15, 2022.

GBT expects to enter into privately "negotiated capped call transactions" with one or more of the initial purchasers of the notes or their respective affiliates or other financial institutions

The notes will be senior, unsecured obligations of GBT, and interest on the notes will be payable semi-annually in arrears.

  • The notes will be convertible into cash, shares of GBT’s common stock or a combination thereof, at GBT’s election.
  • The interest rate, conversion rate and other terms of the notes are to be determined upon pricing of the offering.

GBT intends to use the remainder of the net proceeds from the offering for the continued commercialization of Oxbryta® and the clinical development of Oxbryta® and GBT’s product candidates, and for other general corporate purposes, which may include potential acquisitions, investments and strategic transactions.

GBT also intends to grant the initial purchasers of the notes a 13-day option to purchase up to an additional $45 million aggregate principal number of notes (the “additional notes”).


Expected to result in approximately $290.4 million (or approximately $334.1 million if the initial purchasers exercise their option to purchase additional notes in full) in net proceeds to GBT after deducting the initial purchasers’ discounts and commissions and the estimated offering expenses payable by GBT.


Stats and Key Metrics:

52-week change: -35.22%

52-week high of $52.49 and a low of $24.61

Cash: $386.07 m

**** Debt: $229.95 m ****

Shares outstanding: 64.45 m

Float: 58.42 m

Short percentage (%) of float: 9.51%