Investment Banking
Joint Bookrunner on Ligand Pharmaceuticals’ $700.0MM Convertible Senior Notes Offering
June 30, 2026
Oppenheimer & Co. Inc. acted as Joint Bookrunner on Ligand Pharmaceuticals’ $700.0MM Convertible Senior Notes Offering
Oppenheimer & Co. Inc. acted as Joint Bookrunner to Ligand Pharmaceuticals Incorporated (“Ligand” or the “Company”) on its $700,000,000 0.00% Convertible Senior Notes due 2031. Proceeds from the offering were used to fund the convertible note hedge, repurchase common stock, and general corporate purposes, including financing the announced XOMA Royalty Corporation acquisition.
Ligand is a leading royalty aggregator, partnering with biopharmaceutical companies to finance and advance late-stage clinical development programs. Ligand owns and manages one of the largest and most diversified portfolios of biopharmaceutical royalties in the industry, with economic interests in more than 100 development and commercial-stage assets. Ligand funds high-value programs in exchange for long-term economic interests, aligning capital with clinical and commercial success.
Healthcare Life Sciences Investment Banking
Name:
Michael A. Margolis, R.Ph.
Title:Senior Managing Director, Head of Healthcare Life Sciences Investment Banking
Name:
Arif Sheikh
Title:Managing Director, Healthcare Life Sciences Investment Banking
Name:
Stefan Loren, Ph.D.
Title:Managing Director, Healthcare Life Sciences Investment Banking
Name:
Robert Missant
Title:Managing Director, Convertible Securities Advisory
Name:
Dylan Gering
Title:Executive Director, Healthcare Life Sciences Investment Banking
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