In mid-June, several biotech and navigation firms restructured their debt through convertible note offerings. Adaptive Biotechnologies upsized its offering to $300 million to repay an OrbiMed purchase agreement and repurchase common stock, while NextNav announced the redemption of its 2028 senior secured notes. Additionally, NeoGenomics priced a $275 million offering of convertible senior notes as part of this broader financial trend.
