OPKO Health Notes Become Convertible as Stock Clears Threshold

OPKO Health, Inc. (OPK) determined on October 1, 2026, that its 3.75% Convertible Senior Notes due 2029 are now convertible by holders through December 31, 2026. The company stated that approximately $121 million of these notes is currently outstanding.

The conversion right was triggered because the closing price per share of OPKO Health common stock exceeded $1.495 for at least 20 of the 30 consecutive trading days during the quarter ended September 30, 2026. This price level represents 130% of the applicable conversion price of $1.15. The company has elected to satisfy its conversion obligation under the notes in shares of its common stock.

Holders who elect to convert the notes will receive 869.5652 shares of OPKO Health common stock per $1,000 principal amount of notes, plus any additional shares applicable on the conversion date based on the early conversion provisions in the indenture. The notes will continue to be convertible until December 31, 2026. They may become convertible again in future measurement periods if one or more of the conversion conditions specified in the indenture are satisfied.

The indenture, dated January 9, 2024, was executed between OPKO Health and U.S. Bank Trust Company, National Association. U.S. Bank Trust Company serves as the trustee for the note holders and the conversion agent under the indenture. The company noted that a complete explanation of conversion rights and required procedures is set forth in the indenture document.

The Form 8-K filing was signed by Adam Logal, Senior Vice President and Chief Financial Officer of OPKO Health, on October 2, 2026. The report identifies the company's principal executive offices as being located at 4400 Biscayne Blvd. in Miami, Florida.