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Halozyme Therapeutics Plans $1.05 Billion Offering of Convertible Notes

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Halozyme Therapeutics (HALO) plans to launch an offering of $1.05 billion of convertible senior notes due 2033, subject to market conditions.

Initial purchasers will have a 13-day option to buy up to an additional $150 million of the notes, the company said Wednesday in a statement.

Halozyme expects to use part of the proceeds to fund capped call transactions and to enter agreements with holders of its 0.25% convertible notes due 2027 and 1% convertible notes due 2028 to repurchase their notes for cash. The remainder will be used for general corporate purposes.

Halozyme shares fell 1.8% in after-hours trading.

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Tempest Therapeutics Gains Option to License New In-Body CAR-T Technology From Senlang

Tempest Therapeutics (TPST) signed an exclusive option agreement with China's Hebei Senlang Biotechnology to license a clinical-stage technology that delivers CAR-T cancer treatments directly inside the body, along with a portfolio of related drug candidates.The portfolio includes an early-stage treatment that targets two proteins linked to multiple myeloma and is now being tested in a phase 1 study, Tempest said Tuesday in a statement. Other candidates in the group are aimed at blood cancers and autoimmune diseases, the company said.Tempest said it will continue to evaluate phase 1 results with Senlang during the option period.The company also disclosed in a regulatory filing that it raised about $2.5 million last week through a private placement of prefunded and common stock warrants.Tempest shares rose 35% in after-hours trading.

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Wire

Top Cryptocurrencies Fall; Bitcoin Drops Below $76,000

Top cryptocurrencies fell Tuesday, with Bitcoin (BTC-USD) dropping below $76,000.The CoinDesk Market Index, which tracks dozens of digital assets including Bitcoin, fell 5% in the past 24 hours. The Nasdaq 100 shed 0.8%, the S&P 500 lost 0.5%, and the Dow Jones Industrial Average declined 0.7%.Bitcoin fell 4.1% to $75,847, according to CoinMarketCap data. The most popular cryptocurrency's 24-hour trading volume rose 42% to $39.6 billion.Ethereum (ETH-USD), the second-largest digital asset by market value, declined 5.5% to $2,404.XRP (XRP-USD) lost 11%, BNB (BNB-USD) slumped 1.2%, and Solana (SOL-USD) shed 5.4%. Dogecoin (DOGE-USD) dropped 4.8%, and Cardano (ADA-USD) decreased 7.3%.The total market value of the cryptocurrency industry fell 4.1% in the past 24 hours to $2.58 trillion, with trading volume rising 31% to $103.1 billion.Price: $75891.45, Change: $-2289.88, Percent Change: -2.93%

$ADA-USD$BNB-USD$BTC-USD$DOGE-USD$ETH-USD$SOL-USD$XRP-USD
Wire

Update: PBF Energy Shares Rise After Pricing $500 Million Exchangeable Notes Offering

(Updates with the latest stock price movement in the headline and the first paragraph.)PBF Energy (PBF) shares rose 6.1% on Tuesday, a day after the company said that, along with its PBF Finance unit, it priced $500 million worth of zero-rated exchangeable notes due 2032 in a private offering.The deal is expected to close on Sept. 17.PBF also granted the initial purchasers a 13-day option to buy up to an additional $50 million of notes, it said.The initial exchange rate is $96.80 per share, according to the company.Net proceeds, estimated at $485 million to $533.6 million, will be used to cover the cost of certain associated derivative transactions, repay other debt, and for general corporate purposes, PBF said.Price: $74.60, Change: $+4.20, Percent Change: +5.97%

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