The 0.75% convertible senior notes are due 2030

Davis Polk advised the representatives of the several initial purchasers in connection with a Rule 144A offering by Tempus AI, Inc. of $750 million aggregate principal amount of its 0.75% convertible senior notes due 2030. The offering included $100 million principal amount of notes pursuant to the exercise in full of the initial purchasers’ over-allotment option to purchase additional notes. In addition, Davis Polk advised the counterparties to the capped call transactions entered into in connection with the offering.

Tempus AI is a technology company focused on healthcare that straddles two converging worlds. It strives to combine deep healthcare expertise, providing next-generation diagnostics across multiple disease areas, with leading technology capabilities, harnessing the power of data and analytics to help personalize medicine. It endeavors to unlock the true power of precision medicine by creating Intelligent Diagnostics through the practical application of artificial intelligence in healthcare.

The Davis Polk corporate team included partner Alan F. Denenberg and associates Carlos Escandón Alcocer and Hannah R. Carter. The equity derivatives team included partner Caitlin L. Wood, counsel Justin Michael and Hanbing Zhang and associate Ji Hwan Kim. Partner Aliza Slansky and associate Kelsey Nelson provided tax advice. Partner David R. Bauer provided intellectual property and data privacy advice. Members of the Davis Polk team are based in the Northern California and New York offices.

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