Telix (ASX:TLX) has achieved another significant milestone with the placement of $650 million in convertible bonds that convert at a premium of over 32 per cent to the reference share price.
Telix is commercialising its therapeutic and diagnostic radiopharmaceuticals. Its share price has more than doubled in 2024, and the company now has a market capitalisation of almost $6.4 billion.
Telix said the proceeds will provide funding to bring forward the proposed investment and accelerate clinical development programs across its theranostic portfolio. This includes label-expansion studies to expand the market opportunity across its portfolio of diagnostic imaging agents and funding the trials for kidney and brain cancer therapy programs.
Telix said the proceeds could also be used to pursue opportunities such as strategically significant transactions and continued investment in global supply chain and manufacturing capabilities.
The bonds will mature in July 2029.
Managing director and Group CEO Dr Christian Behrenbruch said, "The Convertible Bonds provide us with attractive, low-cost financing at a clear inflection point in Telix's journey. The proceeds deliver financial flexibility to execute on our strategic priorities, while reducing potential dilution of existing shareholders.
"We have been able to capitalise on strong business execution and market conditions to deliver attractive financing terms. We are very pleased with the strong support that we received from global investors in relation to the Offering."
