Orrick Advises Rocket Pharmaceuticals on Convertible Notes Refinancing


Orrick represented Rocket Pharmaceuticals, Inc. (“Rocket”) in private exchange transactions of $39.35 million aggregate principal amount of its 5.75% Convertible Senior Notes due 2021 (the “Old Notes”) for $39.35 million aggregate principal amount of its newly issued 6.25% Convertible Senior Notes due 2022 (the “New Notes”). In connection with the transactions, Rocket also received the requisite consents of noteholders to amend the indenture in respect of the Old Notes to, among other things, eliminate the debt covenant. The transactions closed on February 20, 2020.

Rocket (Nasdaq: RCKT) is a clinical-stage, multi-platform biotechnology company focused on the development of first or best-in-class gene therapies, with direct on-target mechanism of action and clear clinical endpoints, for rare and devastating pediatric diseases. Orrick previously advised Rocket on its follow-on offering of common stock for net proceeds of approximately $80 million that closed in December 2019.

The Orrick team that advised Rocket on these transactions was led by Capital Markets partner Stephen Ashley. Other members of the Orrick team included Kenneth Marx, Kelly Mink, Will Peifer, John Narducci and Jamie Larkin.