Core Viewpoint - Ligand Pharmaceuticals has successfully completed an offering of 0.75% convertible senior notes due 2030, raising a total of $460 million, with net proceeds of approximately $445.1 million after fees and expenses [1][2]. Group 1: Offering Details - The offering consisted of $460 million in convertible senior notes, including an additional $60 million purchased by initial purchasers [1]. - The net proceeds from the offering were approximately $445.1 million, which will be used for various corporate purposes [2]. Group 2: Use of Proceeds - Ligand allocated approximately $45.9 million of the net proceeds to cover costs associated with convertible note hedge transactions [2]. - The company repurchased 102,034 shares of its common stock for about $15.0 million at a price of $147.01 per share [2]. - Remaining net proceeds are expected to be used for general corporate purposes [2]. Group 3: Financial Instruments - Ligand entered into convertible note hedge transactions to mitigate potential dilution of its common stock upon conversion of the notes [3]. - The company also issued warrants to purchase common stock, with an initial strike price of $294.02 per share, representing a 100% premium over the last reported price [3].