Gossamer Bio sets conversion rate for 2030 convertible notes

Gossamer Bio, Inc. (NASDAQ: GOSS) has announced the initial conversion rate for its 7.50% Convertible Senior Secured First Lien Notes due 2030, set at 5,347.5936 shares of common stock per $1,000 principal amount, representing a conversion price of approximately $0.19 per share.

The initial exercise price for the company's accompanying Purchase Warrants was set at $0.34 per whole share of common stock.

Both figures were determined using a "Reference Price" of $0.17, calculated over a seven trading-day period beginning June 22, 2026, in accordance with the terms of the notes and warrants.

The conversion rate was calculated as the lesser of 5,347.5936 or 1,000 divided by 110% of the Reference Price. The warrant exercise price was calculated as the greater of $0.34 or 125% of the Reference Price.

The announcement was made according to a press release from the San Diego-based biopharmaceutical company, which is focused on developing seralutinib for pulmonary arterial hypertension and pulmonary hypertension associated with interstitial lung disease.

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