18 Nov 2025

Ionis Pharmaceuticals $770 Million Convertible Senior Notes Offering

"Davis Polk advised the representatives of the several initial purchasers in a Rule 144A offering by Ionis Pharmaceuticals of $770 million aggregate principal amount of 0.00% convertible senior notes due 2030, including $70 million from full exercise of the initial purchasers’ option. Ionis is a pioneer in RNA-targeted medicines headquartered in Carlsbad, California."

Davis Polk advised the representatives of the several initial purchasers in connection with a Rule 144A offering by Ionis Pharmaceuticals, Inc., the issuer. The transaction consisted of an aggregate principal amount of $770 million of 0.00% convertible senior notes due 2030. The offering included $70 million aggregate principal amount of notes sold pursuant to the exercise in full of the initial purchasers’ option. For three decades as a pioneer in RNA-targeted medicines, Ionis Pharmaceuticals has focused on bringing better futures to people with serious diseases. Ionis Pharmaceuticals is headquartered in Carlsbad, California. Davis Polk represented the representatives of the several initial purchasers in the offering with a team composed by: partners Alan F. Denenberg and Emily Roberts and associates Savannah J. Dowling and Matthew Franklin (corporate team); partner David R. Bauer and associates Jordan Khorshad and Bari Britvan (intellectual property team); and partner Aliza Slansky and associate Bradford Sherman (tax team). Members of the Davis Polk team were based in the Northern California and New York offices.
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