Core Viewpoint - Guardant Health, Inc. has announced the pricing of an upsized offering of $350.0 million in aggregate principal amount of 0% convertible senior notes due 2033, aimed at qualified institutional buyers under Rule 144A of the Securities Act [1] Group 1 - The offering consists of convertible senior notes, which are debt securities that can be converted into a predetermined number of the company's shares [1] - The notes are due in 2033, indicating a long-term financing strategy for the company [1] - The offering is classified as a private offering, targeting institutional investors rather than the general public [1]

Core Points - Solaris Energy Infrastructure announced a public offering of $650 million in 0.25% convertible senior notes due 2031, increasing from a previously announced size of $600 million [1] - The offering is set to settle on October 8, 2025, and includes an option for underwriters to purchase an additional $97.5 million in notes to cover over-allotments [1] - Estimated net proceeds from the offering are approximately $634.4 million, or $729.7 million if the underwriters fully exercise their option [1] - Solaris plans to allocate about $57 million of the net proceeds for capped call transactions, with the remainder intended for purchasing a subordinated convertible note from its operating subsidiary [1] - Morgan Stanley, Goldman Sachs, and Santander US Capital Markets are the book-running managers for the offering, with J. Wood Capital Advisors serving as financial advisor [1]

Core Viewpoint - Cytokinetics has announced the pricing of a $650 million offering of 1.75% convertible senior notes due 2031, increasing from a previously announced size of $550 million [1][4]. Transaction Details - The notes are set to settle on September 19, 2025, and the initial purchasers have an option to buy an additional $100 million in notes within 13 days of issuance [3]. - The notes will be senior, unsecured obligations with an annual interest rate of 1.75%, payable semi-annually starting April 1, 2026, and maturing on October 1, 2031 [4]. - Noteholders can convert their notes under specific conditions before July 1, 2031, and at any time thereafter until maturity [4]. - The initial conversion rate is 14.6156 shares per $1,000 principal amount, equating to a conversion price of approximately $68.42 per share, representing a 37.5% premium over the last reported sale price of $49.76 on September 16, 2025 [4]. Redemption and Repurchase Conditions - Cytokinetics cannot redeem the notes before October 6, 2028, but can redeem them thereafter under certain conditions [5]. - In the event of a "fundamental change," noteholders may require Cytokinetics to repurchase their notes at the principal amount plus accrued interest [6]. Use of Proceeds - The net proceeds from the offering are estimated at approximately $632 million, or $729.4 million if the option for additional notes is fully exercised [7]. - The primary use of proceeds will be to refinance existing 3.50% convertible senior notes due 2027, extending their maturity to 2031 and retiring approximately $399.5 million of those notes [7][8]. - Remaining proceeds will support the potential commercial launch of aficamten and general corporate purposes [7][14]. Company Overview - Cytokinetics is a biopharmaceutical company focused on developing new medicines for cardiac muscle dysfunction, with a pipeline that includes aficamten and omecamtiv mecarbil [12]. - Aficamten is being prepared for potential regulatory approvals following positive Phase 3 trial results, while other products target various heart failure conditions [12].

Core Viewpoint - GDS Holdings Limited has announced the pricing of a $500 million offering of 2.25% convertible senior notes due in 2032, increasing the initial offering size from $450 million, with expected net proceeds of approximately $486.1 million after expenses [1][2]. Group 1: Notes Offering Details - The offering consists of 2.25% convertible senior notes with an aggregate principal amount of $500 million, due in 2032, and is being offered to qualified institutional buyers [1]. - The company has granted initial purchasers an option to buy an additional $50 million in notes, with the offering expected to close around May 30, 2025 [1]. - The net proceeds will be used for working capital and refinancing existing debt, including potential repurchases of convertible bonds due in 2029 [2]. Group 2: Notes Characteristics - The notes will bear interest at 2.25% per year, payable semiannually, and will mature on June 1, 2032 [3]. - The initial conversion rate is set at 30.2343 American depositary shares (ADSs) per $1,000 principal amount, equating to a conversion price of approximately $33.08 per ADS, representing a 35% premium over the ADS public offering price of $24.50 [4]. - The notes are convertible under specific conditions, with holders able to convert them into cash, ADSs, or a combination thereof starting December 1, 2031 [5]. Group 3: Redemption and Repurchase Options - The company may redeem the notes under certain conditions, including tax law changes or if less than 10% of the original principal remains outstanding [6]. - Holders can require the company to repurchase their notes on June 1, 2029, or upon a "fundamental change" [7][8]. Group 4: Market Impact and Additional Offerings - The company anticipates that some purchasers may establish short positions in its ADSs, which could affect the market price of both the ADSs and the notes [9]. - GDS Holdings has also priced a separate public offering of 6,000,000 ADSs to facilitate derivative transactions related to the notes offering [10]. - Additionally, a public offering of 5,200,000 ADSs has been announced, with underwriters granted a 30-day option for additional purchases [11].