Xeris completes exchange of 2028 convertible notes, eliminates them from balance sheet

Xeris Biopharma Holdings, Inc. completed a set of privately negotiated exchange transactions on July 15, 2026, involving holders of its 8.00% Convertible Senior Notes due 2028, transactions that had first been disclosed in a Current Report on Form 8-K filed on June 11, 2026¹.

Under the deal, the exchanging noteholders traded about $23 million in aggregate principal amount of the 2028 notes for roughly 5.0 million shares of Xeris common stock plus about $23 million in cash¹. The company funded the cash portion using liquidity on hand¹, and the exchanged 2028 notes were immediately cancelled once the transactions closed¹.

In a separate move the same day, a holder of $10.5 million in principal amount of the 2028 notes converted them into approximately 3.6 million shares of Xeris common stock¹. After both the exchange transactions and this conversion, no 2028 notes remained outstanding¹.

The newly issued shares were not registered under the Securities Act. The shares from the exchange transactions were issued in a private placement under the Section 4(a)(2) exemption, based in part on representations that each exchanging noteholder was an institutional accredited investor and a qualified institutional buyer under Rule 144A¹. The shares issued in the conversion were also unregistered, relying instead on the Section 3(a)(9) exemption¹.

The filing states that the report itself does not constitute an offer or solicitation to buy or sell securities in any jurisdiction where that would be unlawful¹. The 8-K was signed on July 17, 2026 by Chief Financial Officer Steven M. Pieper.