Core Viewpoint - Indivior Pharmaceuticals, Inc. has announced the pricing of a $450 million offering of 0.625% convertible senior notes due 2031, which was increased from an initial offering size of $400 million, with a potential additional $50 million option for initial purchasers [1][4]. Group 1: Offering Details - The notes will be senior, unsecured obligations with an interest rate of 0.625% per annum, payable semi-annually starting September 15, 2026, and maturing on March 15, 2031 [2]. - The initial conversion rate is set at 24.0033 shares of common stock per $1,000 principal amount of notes, translating to an initial conversion price of approximately $41.66 per share, representing a 35% premium over the last reported sale price on March 12, 2026 [2]. - The notes are redeemable at Indivior's option starting March 20, 2029, under certain conditions, including if the stock price exceeds 130% of the conversion price for a specified period [3]. Group 2: Use of Proceeds - Indivior estimates net proceeds from the offering to be approximately $437.7 million, or $486.4 million if the additional notes option is fully exercised [4]. - The company plans to use about $239 million to repay borrowings under its term loan and revolving credit facility, $75 million for repurchasing approximately 2.4 million shares of common stock, and the remainder for general corporate purposes [4][5]. Group 3: Company Background - Indivior is a leader in long-acting injectable treatments for opioid use disorder (OUD), focusing on evidence-based treatment and advancing the understanding of OUD as a chronic but treatable brain disease [8]. - The company has a history of over 25 years in addiction medicine, aiming to help individuals achieve long-term recovery with dignity [8].