Deal Details

Mirum Completes $690.0 Million Convertible Senior Notes Offering

Healthcare

Mirum convertible senior notes offering

Summary

Mirum Pharmaceuticals, Inc. (“Mirum”) (NASDAQ: MIRM) recently announced an offering of $690.0 million aggregate principal amount of 0.00% convertible senior notes due 2032 (the “Notes”) in a private placement (the “Offering”), which includes the exercise in full by the initial purchasers of their option to purchase an additional $90.0 million aggregate principal amount of Notes. Mirum expects to use approximately $475.0 million of the net proceeds from the Offering and to issue approximately 3.2 million shares of its common stock in exchange for approximately $237.2 million aggregate principal amount of the 4.00% convertible senior notes due 2029 in privately negotiated transactions (each, a “note exchange transaction”) entered into concurrently with the pricing of the Offering. Mirum expects to use a portion of the net proceeds from the Offering to pay the cash portion of the consideration in the note exchange transactions. Mirum expects to use the remainder of the net proceeds of this Offering for general corporate purposes, which may include the acquisition of complementary products, technologies, intellectual property or businesses as part of its growth strategy.

Baird served as lead manager on this Offering.

About

Mirum is a leading rare disease company with a global footprint of approved products and a broad pipeline of investigational medicines. Purpose-built to bring forward breakthrough medicines for people with overlooked conditions, Mirum focuses on rare liver and rare genetic diseases, where it has built deep expertise and strong connections to patient communities. Mirum’s commercial portfolio includes LIVMARLI (maralixibat) for Alagille syndrome and progressive familial intrahepatic cholestasis, CHOLBAM (cholic acid) for bile-acid synthesis disorders and CTEXLI (chenodiol) for cerebrotendinous xanthomatosis. Mirum’s clinical-stage pipeline includes volixibat, an IBAT inhibitor in late-stage development for primary sclerosing cholangitis and primary biliary cholangitis, brelovitug, a fully human monoclonal antibody in late-stage development for chronic hepatitis delta virus, zilurgisertib, an ALK2 inhibitor under regulatory review with the FDA for fibrodysplasia ossificans progressiva and MRM-3379, a PDE4D inhibitor being evaluated for Fragile X syndrome. Mirum’s success is driven by a team dedicated to advancing high impact medicines through strategic development, disciplined execution and purposeful collaboration across the rare disease ecosystem. Mirum is headquartered in Foster City, California.

Healthcare

Mirum convertible senior notes offering