On June 26, 2023, Pacific Biosciences of California, Inc. (PacBio) announced that it has entered into a privately negotiated exchange agreement with a holder of PacBio's outstanding 1.50 percent convertible senior notes due 2028, pursuant to which PacBio will issue $441 million principal amount of its 1.375 percent convertible senior notes due 2030 in exchange for $441 million principal amount of the 2028 notes (the Exchange Transaction), in a transaction exempt from registration under the Securities Act of 1933, as amended, and the rules and regulations thereunder.  The Exchange Transaction is expected to close on or about June 30, 2023, subject to customary closing conditions.

The Wilson Sonsini Goodrich & Rosati team representing PacBio on the transaction includes:

Corporate
Andrew Hoffman
Zach Myers
James Babikian
Daniel McCanavan

Corporate Finance
Mike Rosati
Katie Barnes
Jing Xu

Tax
Myra Sutanto Shen
Anthony Yanez

For more information, please see PacBio’s press release.