Business Wire·Nov 11, 2026, 4:17 PM ET

Guardant Health Announces Proposed $500.0 Million Offering of Convertible Senior Notes Due 2032

Guardant Health plans to offer $500 million in aggregate principal amount of convertible senior notes due 2032 via a private Rule 144A offering.
Initial purchasers have an option to buy up to an additional $50 million in notes within 13 days of issuance.
The notes are senior, unsecured obligations that mature on May 15, 2032, with interest payable semi-annually in arrears.
Conversion of notes may be settled in cash, shares, or a combination at the company's election.
The company generally cannot redeem the notes before November 20, 2029, unless specific stock price thresholds are met or the outstanding principal falls below $50 million.
Net proceeds will be used to repurchase some of the 2027 convertible notes, fund capped call transactions, and cover general corporate purposes.
Capped call transactions are intended to reduce potential dilution upon conversion or offset cash payments exceeding the principal amount of converted notes.
Option counterparties may purchase shares or enter derivatives concurrently with pricing, while hedged holders of 2027 notes may unwind positions, potentially impacting the market price.
Counterparties may adjust hedge positions in secondary markets, which could affect the trading price of the stock or notes.
The securities are unregistered under the Securities Act \& cannot be offered or sold except pursuant to an exemption.
The press release contains forward-looking statements subject to risks that could cause actual results to differ from expectations.