Theravance Biopharma, Inc. Concurrent Ordinary Shares and Convertible Senior Notes Offerings

Davis Polk advised the joint book-running managers in connection with a $100.1 million SEC-registered offering of 3,850,000 ordinary shares of Theravance Biopharma, Inc. The ordinary shares are listed on the NASDAQ Global Market under the symbol “TBPH.”

Davis Polk also advised the joint book-running managers in connection with a concurrent SEC-registered offering by Theravance Biopharma of $230 million aggregate principal amount of its 3.25% convertible senior notes due 2023, which included $30 million aggregate principal amount of notes that the underwriters purchased pursuant to their option to purchase additional notes.

Headquartered in South San Francisco, California, Theravance Biopharma is a diversified biopharmaceutical company with the core purpose of creating medicines that make a difference in the lives of patients suffering from serious illness, primarily for use in the acute care setting.

The Davis Polk corporate team included partner Alan F. Denenberg and associates Jeffrey C. Lau and Judy Lai. The tax team included partner Rachel D. Kleinberg and associate Lena X. Qiu. Associates Michelle Ontiveros Gross and Jason J. Bang provided intellectual property and technology advice. Counsel Marcie A. Goldstein provided FINRA advice. Members of the Davis Polk team are based in the Northern California and New York offices.