BridgeBio Raises $1 Billion in Preferred Equity to Accelerate Present and Upcoming Launches

BridgeBio Pharma announced a $1 billion preferred equity investment led by Sixth Street ($800M) and HealthCare Royalty ($133.9M). The Series A Cumulative Convertible Preferred Stock features a 7% dividend and conversion price of $137.79 per share (100%+ premium to 30-day VWAP). The capital strengthens BridgeBio's balance sheet as it prepares for potential launches of three blockbuster drugs: BBP-418 for LGMD2I/R9, encaleret for ADH1, and infigratinib for achondroplasia, while Attruby continues to grow as a multi-billion-dollar drug.