INSMED INCORPORATED (NASDAQ:INSM) Files An 8-K Other Events

INSMED INCORPORATED (NASDAQ:INSM) Files An 8-K Other Events
ITEM 8.01 — Other Events.

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Underwritten Public Offering of 1.75% Convertible Senior Notes due 2025

On January23, 2018,Insmed Incorporated (the “Company”) entered into an underwriting agreement (the “Underwriting Agreement”) with Goldman Sachs& Co. LLC, Morgan Stanley & Co. LLC and Leerink Partners LLC, as managers of the underwriters named in Schedule I thereto (the “Underwriters”), relating to the offer and sale of $400 million aggregate principal amount of its 1.75% Convertible Senior Notes due 2025 (the “Notes”). In the Underwriting Agreement, the Company granted the Underwriters an option exercisable for 30 days from the date of the Prospectus Supplement (as defined below) to purchase up to an additional $50 million aggregate principal amount of Notes, solely to cover over-allotments, which the Underwriters exercised on January 24, 2018. The net proceeds to the Company from the sale of the Notes, after deducting the underwriting fees and discounts and other estimated offering expenses payable by the Company, are expected to be approximately $435.8 million.

The offering is being made to a base prospectus dated January 22, 2018, which was filed with the Securities and Exchange Commission (the “SEC”) as part of a shelf registration statement that became automatically effective upon filing, as amended by Post-Effective Amendment No. 1 thereto, filed with the SEC on January 22, 2018, as supplemented by a preliminary prospectus supplement filed with the SEC on January22, 2018, and a final prospectus supplement, dated January 23, 2018 (the “Prospectus Supplement”). The closing of the offering is expected to take place on or about January 26, 2018, subject to the satisfaction of customary closing conditions.

The Underwriting Agreement contains customary representations, warranties and agreements by the Company, customary conditions to closing, indemnification obligations of the Company and the Underwriters, including for liabilities under the Securities Act of 1933, as amended, and termination provisions. A copy of the Underwriting Agreement is filed as Exhibit1.1 to this Current Report on Form 8-K and is incorporated by reference herein. The foregoing description of the terms of the Underwriting Agreement does not purport to be complete and is qualified in its entirety by reference to the Underwriting Agreement. The legal opinion of Hunton& Williams LLP relating to the notes being offered is filed herewith as Exhibit5.1. The legal opinion of Covington& Burling LLP relating to the notes being offered is filed herewith as Exhibit5.2.

The Notes will be issued to an indenture and a supplemental indenture to be entered into by and between the Company and Wells Fargo Bank, National Association, as trustee.

Press Releases

On January22, 2018, the Company issued a press release announcing the commencement of the offering. On January23, 2018, the Company issued a press release announcing the pricing of the offering. Copies of the press releases are attached hereto as Exhibits 99.1 and 99.2, respectively, and are each incorporated herein by reference.

ITEM 9.01 – Financial Statements and Exhibits.

(d)Exhibits

Exhibit No.

Description

1.1

Underwriting Agreement, dated as of January23, 2018, by and among the Company and Goldman Sachs& Co. LLC, Morgan Stanley& Co. LLC and Leerink Partners LLC, as managers of the underwriters named in Schedule I thereto.

5.1

Opinion of Hunton& Williams LLP

5.2

Opinion of Covington& Burling LLP

23.1

Consent of Hunton& Williams LLP (included in Exhibit5.1)

23.2

Consent of Covington& Burling LLP (included in Exhibit5.2)

99.1

Launch Press Release issued by the Company on January22, 2018.

99.2

Pricing Press Release issued by the Company on January23, 2018.


INSMED Inc Exhibit
EX-1.1 2 a18-3168_6ex1d1.htm EX-1.1 EXHIBIT 1.1   INSMED INCORPORATED   1.75% Convertible Senior Notes due 2025   UNDERWRITING AGREEMENT   January 23,…
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About INSMED INCORPORATED (NASDAQ:INSM)

Insmed Incorporated is a biopharmaceutical company. The Company operates in the segment of development and commercialization of inhaled therapies for patients with serious lung diseases. The Company’s lead product candidate, ARIKAYCE, or liposomal amikacin for inhalation (LAI), which is in late-stage development for patients with nontuberculous mycobacteria (NTM) lung disease, a rare and often chronic infection that is capable of causing irreversible lung damage and can be fatal. The Company’s earlier stage pipeline includes INS1009, a nebulized prodrug formulation of treprostinil, a vasodilator of pulmonary arterial vascular beds. The Company is conducting a global Phase III clinical study of ARIKAYCE (the 212 or CONVERT study) in adult patients with NTM lung disease caused by Mycobacterium avium complex (MAC), the infective species in NTM lung disease in the United States, Europe and Japan.

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