Xeris Biopharma Holdings, Inc. 8-K

What Happened
Xeris Biopharma Holdings, Inc. announced it completed privately negotiated exchange transactions and a conversion that fully eliminated its 8.00% Convertible Senior Notes due 2028. In the exchanges, holders surrendered approximately $23.0 million principal of the 2028 Notes in return for about 5.0 million shares of common stock and approximately $23.0 million in cash. Separately, on July 15, 2026, a noteholder converted $10.5 million principal of the 2028 Notes into ~3.6 million shares. After these transactions, no 2028 Notes remain outstanding.

Key Details

• Approx. $23.0M principal of 2028 Notes exchanged for ~5.0M shares + ~$23.0M cash (cash funded from company liquidity).
• $10.5M principal converted on July 15, 2026 into ~3.6M shares.
• Total shares issued in these transactions: ~8.6 million shares; total cash paid in exchange transactions: ~$23.0M.
• Exchange shares issued in a private placement relying on Section 4(a)(2) and Rule 144A representations; conversion shares issued under Section 3(a)(9) (not registered under the Securities Act).

Why It Matters
These transactions extinguish Xeris’s outstanding 2028 convertible debt, removing related interest and principal obligations tied to that security. Investors should note the company issued roughly 8.6 million new shares (dilution) and paid about $23.0M in cash (a near‑term liquidity impact). The stock issuances were private and subject to resale restrictions under the Securities Act exemptions cited in the filing.