• Proceeds expected to be deployed to repay the OrbiMed Purchase Agreement to enhance financial flexibility
  • Additional proceeds used to pay for the capped call with a premium of at least 75% and to repurchase up to $25 million of common stock to reduce potential dilution
  • Remaining capital to be used for general corporate purposes and opportunistic initiatives in the MRD business

     

SEATTLE, June 15, 2026 (GLOBE NEWSWIRE) -- Adaptive Biotechnologies Corporation ("Adaptive Biotechnologies") (NASDAQ:ADPT) today announced its intention to offer, subject to market and other conditions, $250 million aggregate principal amount of convertible senior notes due 2031 (the "notes") in a private offering to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the "Securities Act"). Adaptive Biotechnologies also expects to grant the initial purchasers of the notes an option to purchase, for settlement within a period of 13 days from, and including, the date the notes are first issued, up to an additional $37.5 million aggregate principal amount of notes.

The notes will be senior, unsecured obligations of Adaptive Biotechnologies, will accrue interest payable semi-annually in arrears and will mature on July 1, 2031, unless earlier repurchased, redeemed or converted. Noteholders will have the right to convert their notes in certain circumstances and during specified periods. Adaptive Biotechnologies will settle conversions by paying or delivering, as applicable, cash, shares of its common stock or a combination of cash and shares of its common stock, at Adaptive Biotechnologies's election.