OPKO Health says its 2029 convertible notes are now convertible through year-end

OPKO Health, Inc. disclosed in an 8-K filing that on October 1, 2026, it determined that its 3.75% Convertible Senior Notes due 2029, with approximately $121 million outstanding, are convertible by holders through December 31, 2026.¹ The company said it has elected to satisfy its conversion obligation under the notes in shares of its common stock.¹

The trigger for the conversion right was a stock price test. OPKO said the condition was met because the company's common stock closed above $1.495, equal to 130% of the $1.15 conversion price, on at least 20 of the 30 trading days in the quarter ended September 30, 2026.¹

Under the governing indenture, the notes will remain convertible through December 31, 2026, and could remain convertible afterward if any of the conditions in the indenture dated January 9, 2024 between OPKO and U.S. Bank Trust Company, National Association, are met in later measurement periods.¹ The company specified that holders who convert will receive 869.5652 shares of common stock per $1,000 of principal, plus any additional shares due under the indenture's early conversion provisions.¹

OPKO noted that U.S. Bank Trust Company, National Association serves as trustee for the noteholders and as conversion agent under the indenture.¹ The filing was signed by Adam Logal, Senior Vice President and Chief Financial Officer, and dated October 2, 2026.