India, May 12 -- Omeros Corp. (OMER), Monday announced that it has struck two agreements to restructure $80.5 million of its 5.25 percent Convertible Senior Notes due 2026.
Under exchange agreements with noteholders, $70.5 millions of these notes will be swapped one-for-one into new 9.50 percent Convertible Senior Notes due 2029, featuring a conversion rate set at 35 percent above the May 12, VWAP or a $6.18 floor, maturing June 15, 2029.
Separately, the company will convert $10 million of 2026 notes into common shares over three tranches based on VWAP formulas, completing by September 15, 2025.
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These actions reduce remaining 2026 notes to $17.4 million...