#United States #Convertible Notes #Biopharmaceutical #Bridgewater #Insmed Incorporated

Insmed's Strategic Move: Redemption of Convertible Senior Notes

In a significant move aimed at solidifying its financial strategy, Insmed Incorporated (NASDAQ: INSM), a biopharmaceutical leader focused on pioneering healthcare solutions, has announced the full redemption of its remaining outstanding 0.75% convertible senior notes, totaling $569.5 million. This decision is set to take effect on June 6, 2025.

Insmed, dedicated to transforming the lives of patients suffering from serious diseases, emphasizes its mission through this financial maneuver. By redeeming these convertible notes, the company aims to enhance its capital structure and optimize its financial resources. According to the company’s announcement made on April 24, 2025, the redemption is permitted under Section 11.03 of the governing indenture for the notes, showcasing the company’s careful strategic planning.

Redemption Process and Payment Details

The redemption price, as stipulated, will equal 100% of the principal amount of the notes outstanding on the redemption date, supplemented by any accrued and unpaid interest leading up to the redemption date. For instance, for each $1,000 of principal amount, investors will receive approximately $1,000.10 on the stipulated redemption date. Moreover, with no defaults on payments, the interest on these notes will cease to accrue post-redemption.

Payments for notes surrendered in book-entry form will be processed through the Depository Trust Company (DTC), in adherence with the respective rules and procedures. The appointed paying agent for this transaction is Computershare Trust Company, N.A. Investors holding notes in certificated form must ensure their delivery to the specified address of Corporate Trust Operations, located at 1505 Energy Park Drive, St. Paul, MN 55108.

Conversion Options for Noteholders

Investors holding the notes have the option to convert their notes into shares of common stock until June 4, 2025, prior to the redemption deadline. The conversion ratio stands at 30.7692 shares per $1,000 principal amount of notes, equating to an approximate price of $32.50 per share. In total, should all notes be converted, up to 17,523,336 shares could be issued, further impacting the company's stock dynamics and offering an appealing incentive for investors.

This press release serves as a critical communication piece, clarifying the redemption process without constituting an official notice of redemption or an offer to purchase the notes. Insmed also emphasizes that this announcement does not constitute any solicitation to sell or buy the notes, adhering strictly to legal standards and compliance measures.

About Insmed Incorporated

Headquartered in Bridgewater, New Jersey, Insmed is recognized for its commitment to a people-first approach in the biopharmaceutical sector. The company is actively engaged in the development of various therapies aimed at addressing significant medical needs, particularly in the realms of pulmonary and inflammatory conditions. Insmed's-state-of-the-art programs combine advanced technologies including gene therapy and AI-driven protein engineering, crucial in a rapidly evolving medical landscape.

Insmed has garnered accolades as a leading employer within the biopharmaceutical industry, notably ranking as the top Science Employer for four consecutive years. This commitment to employee welfare reflects the company's holistic approach to innovation and development. For more information about Insmed and their ongoing projects, please visit www.insmed.com.

Conclusion

The anticipated redemption of Insmed’s convertible senior notes signifies a strategic financial maneuver designed to strengthen its operational framework and assure stakeholders of the company's solid trajectory. As Insmed continues to balance innovative development and strategic financial management, its long-term vision remains focused on transforming patient care within biopharmaceutical landscapes.

For queries regarding this announcement:

• - Investors: Bryan Dunn, Vice President, Investor Relations, (646) 812-4030, [email protected]
• - Media: Claire Mulhearn, Vice President, Corporate Communications, (862) 842-6819, [email protected]