Monitor the June 16 expiration for whether the 98% minimum tender condition is met. If the exchange closes, noteholders will receive a mix of secured debt and equity, significantly diluting common shareholders. The extension suggests the company is still gathering tenders, and the outcome remains uncertain.
Price Chart
Executive Summary
Gossamer Bio extended the early tender deadline for its exchange offer to exchange up to $181M of 5.00% Convertible Senior Notes due 2027 for new 7.50% Convertible Senior Secured First Lien Notes due 2030, common stock, and warrants. The withdrawal deadline has passed, and the offer requires 98% minimum tender to close, with the final expiration on June 16, 2026.
Key Facts
- Early tender deadline extended to 5:00 p.m. ET on June 2, 2026.
- As of June 1, $181,052,000 in aggregate principal amount of Existing Convertible Notes was validly tendered.
- Minimum condition requires 98% of aggregate principal amount of Existing Convertible Notes to be validly tendered.
- Exchange offer includes up to $72.0M in new 7.50% Convertible Senior Secured First Lien Notes due 2030 and up to 317,647,058 shares of common stock.
- Withdrawal deadline expired on June 1, 2026; tenders can no longer be withdrawn.
- Final expiration deadline remains June 16, 2026.
Financial Impact
Up to $181M of existing 5.00% convertible notes being exchanged for new secured notes and equity; potential massive dilution from up to 317.6M new shares (current market cap ~$46M).
Risk Factors
- Exchange offer may fail if 98% minimum tender condition is not met.
- If successful, massive equity dilution from up to 317.6M new shares relative to current market cap.
- New 7.50% secured notes increase interest burden and are senior to existing unsecured notes.
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 5 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001728117-26-000040 |
| Document: goss-20260602xexx991xpr.htm | 0001728117-26-000040 |
| Document: 0001728117-26-000040-index-headers.html | 0001728117-26-000040 |
| Document: 0001728117-26-000040-index.html | 0001728117-26-000040 |
| Document: 0001728117-26-000040.txt | 0001728117-26-000040 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 8, 2026 17d ago | SC 13D/A | $9.31 | awaiting T+20 | — | $9.15 (+1.72%) |
Sep 28, 2026 27d ago | SC 13D/A | $11.58 | awaiting T+20 | — | $9.15 (+20.98%) |
Sep 22, 2026 4w ago | Institutional Cluster | $11.69 $9.58 | ▼ −18.05% | ▼ −17.49% | $9.15 (−21.73%) |
Sep 16, 2026 5w ago | 8-K | $11.94 $8.89 | ▼ −25.54% | ▼ −26.75% | $9.15 (−23.37%) |
Sep 11, 2026 6w ago | 8-K | $10.73 $9.31 | ▲ +13.23% | ▲ +15.10% | $9.15 (+14.73%) |
Sep 9, 2026 6w ago | 8-K | $0.1597 $0.1273 | ▼ −20.32% | ▼ −22.26% | $9.15 (+5629.49%) |
Aug 21, 2026 9w ago | 8-K | $0.1547 $0.1410 | ▲ +8.86% | ▲ +9.87% | $9.15 (−5814.67%) |
Aug 13, 2026 10w ago | 8-K | $0.1542 $0.1337 | ▼ −13.26% | ▼ −11.27% | $9.15 (+5833.85%) |
Jul 1, 2026 16w ago | 8-K | $0.1677 $0.1783 | ▼ −6.32% | ▼ −6.87% | $9.15 (−5356.17%) |
Jun 17, 2026 18w ago | 8-K | $0.1790 $0.1701 | ▲ +4.97% | ▲ +5.29% | $9.15 (−5011.73%) |
US Market Status
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