Company: HRTX
Filing Date: 2025-09-19
Form Type: DEF 14A
Source: 0001193125-25-209064
Chunk: 9

Company: HERON THERAPEUTICS, INC. /DE/
Filing Date: 2025-09-19
Form: DEF 14A
Chunk 9
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 exchanged the Company’s $150.0 million aggregate principal amount of senior unsecured convertible promissory notes due 2026 (the “Existing Notes”) that were issued and sold by us to the Existing Note Holders pursuant to that certain note purchase agreement, dated as of May 24, 2021, of which (A) an aggregate principal amount of $25.0 million of the Existing Notes were exchanged for 16,666,666 shares of Common Stock and (B) the remaining aggregate principal amount of $125.0 million of the Existing Notes, together with all accrued and unpaid interest thereon, were repaid in cash by the Company to the Existing Note Holders (the “Convertible Note Exchange”); (iii) a note purchase agreement (the “Note Purchase Agreement”) with Rubric Capital Management LP (“Rubric”), in connection with the issuance and sale of $35.0 million aggregate principal amount of convertible senior unsecured promissory notes due 2031 (the “Notes”) to a fund affiliated with Rubric for an aggregate purchase price of $33.25 million, which shall convert at the option of the holder pursuant to the terms of the Note Purchase Agreement, subject to Stockholder Approval, pursuant to exemptions from registration under Section 4(a)(2) of the Securities Act of 1933 (the “Securities Act”), as amended (the “Convertible Note Issuance”); and (iv) a securities purchase agreement (the “Purchase Agreement”) with the purchasers party thereto, in connection with a private placement of (A) 13,225,227 unregistered shares of Common Stock at a purchase price of $1.50 per share and (B) 524,141 unregistered shares of Series A Convertible Preferred Stock, which shall automatically convert upon stockholder approval (the “Series A Preferred StockholderApproval”) into 5,241,410 shares of Common Stock, at a conversion price of $1.50 per share (stated value of

$15.00 per share) for an aggregate investment amount of approximately $27.7 million, pursuant to exemptions from registration under Section 4(a)(2) of the Securities Act and/or Rule 506 of Regulation D under the Securities Act (the “Private Placement,” and together with the Secured Debt Transaction, the Convertible Note Exchange and the Convertible Note Issuance, the “Refinancing Transactions”).

On August 12, 2025, the Company issued the Notes, which,