Ligand Pharmaceuticals Launches $400 Million Convertible Notes Offering
Deal News | Aug 13, 2025 | Paul Hastings
Paul Hastings LLP, a leading global law firm, is advising Ligand Pharmaceuticals, a biopharmaceutical company known for enabling scientific advancements, on a significant financial move. Ligand is set to conduct a private placement of $400 million in convertible senior notes with an interest rate of 0.75%, due in 2030. This convertible notes offering is anticipated to close on August 14, 2025, pending customary closing conditions. Securities and Capital Markets partners Brandon Bortner and of counsel Ryan Brewer spearheaded the advisory team, with additional input from partners Daniel Nicholas and Jaime Madell, and associates Greg Drozdzal and Gaby Jassir. The Public Company Advisory team, comprising partners Brad Bondi and Sean Donahue, also contributed their expertise on governance matters. Paul Hastings is recognized for its elite teams across various core practices, offering intellectual capital and superior execution to leading financial institutions and corporations worldwide.
Sectors
- Biopharmaceuticals
- Legal Services
- Financial Services
Geography
- United States – Both Ligand Pharmaceuticals and Paul Hastings LLP operate primarily within the United States, where the transaction is set to occur.
Industry
- Biopharmaceuticals – The article focuses on Ligand Pharmaceuticals, a company involved in biopharmaceutical research and development.
- Legal Services – Paul Hastings LLP, the law firm advising Ligand Pharmaceuticals, is a key participant providing legal advisory services.
- Financial Services – The transaction involves a significant financial placement in the form of convertible notes, relevant to capital markets and financial services.
Financials
- $400 million – The aggregate principal amount of convertible senior notes to be offered by Ligand Pharmaceuticals.
- 0.75% – Interest rate of the convertible senior notes due 2030.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Ligand Pharmaceuticals Incorporated | Target Company | Company | A biopharmaceutical company enabling scientific advancement through supporting the clinical development of high-value medicines. |
| Paul Hastings LLP | Legal Advisor | Company | A global law firm providing legal services and advising Ligand Pharmaceuticals on its convertible notes offering. |
| Brandon Bortner | Lead Advisor | Person | Securities & Capital Markets partner at Paul Hastings, leading the advisory team. |
| Ryan Brewer | Of Counsel | Person | Of Counsel at Paul Hastings, part of the advisory team. |