Reported Earlier: CRISPR Therapeutics Plans $350M Convertible Note Offering, Maturing 2031, To Fund Corporate Purposes

- CRISPR Therapeutics AG (NASDAQ:CRSP) (the "Company") today announced its intention to offer, subject to market conditions and other factors, $350 million aggregate principal amount of its convertible senior notes due 2031 (the "notes") in a private offering (the "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"). The Company 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 $52.5 million aggregate principal amount of the notes.

The notes will be senior, unsecured obligations of the Company and will accrue interest payable semiannually in arrears on March 1 and September 1 of each year, beginning on September 1, 2026. The notes will mature on March 1, 2031, unless earlier converted, redeemed or repurchased. Upon conversion, the Company will deliver common shares, nominal value CHF 0.03 per share ("common shares"). The interest rate, initial conversion rate and other terms of the notes will be determined at the pricing of the offering.

The Company intends to use the net proceeds from the offering for general corporate purposes.