---
title: "Tempus AI Prices $460 Million 0% Convertible Notes Due 2032, Retires Senior Credit Facility"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/286239704.md"
description: "Tempus AI has completed a $460 million private offering of 0% Convertible Senior Notes due 2032, generating approximately $441.9 million in net proceeds. The company used $307.7 million to repay its senior secured credit facilities and $31.2 million for capped call transactions to mitigate dilution. This refinancing is expected to lower interest expenses and enhance balance sheet flexibility. The notes are convertible at about $69.26 per share, with an initial cap price of $98.94 for the capped calls."
datetime: "2026-05-13T10:13:00.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/286239704.md)
  - [en](https://longbridge.com/en/news/286239704.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/286239704.md)
---

# Tempus AI Prices $460 Million 0% Convertible Notes Due 2032, Retires Senior Credit Facility

Tempus AI completed a $460.0 million private offering of 0.00% Convertible Senior Notes due 2032, executing an Indenture on May 12, 2026. The notes, initially convertible at about $69.26 per share, generated approximately $441.9 million in net proceeds. The company used $307.7 million to repay its senior secured credit facilities and approximately $31.2 million to enter capped call transactions with a $98.94 initial cap price to mitigate dilution. The refinancing is expected to lower interest expense and enhance balance sheet flexibility.

**Agreement 1: Tempus AI Completes $460 Million 0% Convertible Notes Due 2032 to Refinance Debt**

-   **Agreement type**: Indenture for 0.00% Convertible Senior Notes due 2032
-   **Counterparty**: U.S. Bank Trust Company
-   **Signed / Effective**: May 12 2026 / same
-   **Duration / Termination**: Until May 15 2032
-   **Reason**: Refinance debt and fund general corporate purposes

**Agreement 2: Tempus AI Enters Capped Call Transactions to Mitigate Dilution From Convertible Notes**

-   **Agreement type**: Capped call confirmations linked to convertible notes
-   **Counterparty**: Multiple financial institutions
-   **Signed / Effective**: May 07 2026 / same
-   **Duration / Termination**: Through note maturity
-   **Reason**: Reduce potential dilution and offset cash on conversion

**Agreement 3: Tempus AI Retires Senior Secured Credit Facilities After Convertible Notes Offering**

-   **Agreement terminated**: Senior secured credit facilities (Credit Agreement)
-   **Counterparty**: Ares Capital; ACF Finco I; lender group
-   **Original agreement date**: Sep 22 2022
-   **Termination date**: May 12 2026
-   **Termination type**: Early
-   **Exit fees / payments**: None
-   **Reason**: Repaid with proceeds from convertible notes

Original SEC Filing: Tempus AI, Inc. \[ TEM \] - 8-K - May. 12, 2026

**Disclaimer**

This is an AI-powered summary. It may contain inaccuracies. Consider verifying important information with the source. Please note this summary is solely based on documents filed with the SEC.

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