OMEROS CORP 8-K

What Happened

• Omeros Corporation announced on June 17, 2026 that it entered into privately negotiated agreements to repurchase up to approximately $16.0 million aggregate principal of its 9.50% Convertible Senior Notes due 2029.
• The total purchase price (including accrued and unpaid interest and other obligations) is up to approximately $34.0 million, subject to adjustment based on the trading price of Omeros common stock during an averaging period beginning June 18, 2026. The company expects the repurchases to close between July 6, 2026 and July 16, 2026, subject to customary closing conditions.

Key Details

• Security: 9.50% Convertible Senior Notes due 2029.
• Aggregate principal to be repurchased: up to ~$16.0 million.
• Estimated total purchase price (inclusive of accrued interest): up to ~$34.0 million, adjustable by stock-price averaging.
• Timing: averaging period begins June 18, 2026; expected closings July 6–16, 2026.
• Post-transaction outstanding principal if full amount repurchased: approximately $54.8 million.

Why It Matters

• This transaction will reduce Omeros’ outstanding convertible debt if completed, lowering the principal balance of the 2029 notes from current levels to about $54.8 million (if the full $16.0M is repurchased).
• The purchase price exceeds principal (includes accrued interest and a premium), and the final amount depends on the company’s stock trading during the averaging period—so the cost and equity/convertible dynamics are tied to market moves.
• For investors, the repurchase affects the company’s capital structure (less convertible debt outstanding) and could reduce future interest obligations on this high-coupon (9.50%) debt.