Morphosys: New convertible bond – no subscription rights for shareholders

The biotech company Morphosys has started placing a convertible bond. The issue has a volume of up to 325 million euros and is due in 2025 – provided that it is not converted. If the bond were fully converted, this would correspond to around 2.65 million Morphosys shares. Shareholders do not receive subscription rights for the convertible bond, Morphosys has excluded subscription rights.

The exact conditions of the bond are still to be determined: “The convertible bonds are offered with an interest coupon between 0.625% and 1.125% per year, which is payable in arrears every six months. The conversion premium is set between 35.0% and 40.0% above the reference price of the share, which corresponds to the volume-weighted average price (VWAP) of the shares in Xetra trading between the start of the placement and the price setting, ”said Morphosys on Tuesday.

The biotech company intends to use the proceeds from the convertible bond to finance various projects, including proprietary development programs, in-licensing and possible M&A transactions.

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At a glance – chart and news: MorphoSys


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