ALISO VIEJO, Calif.—Glaukos Corporation (NYSE: GKOS), an ophthalmic pharmaceutical and medical technology company, has announced that it entered into separate, privately negotiated exchange agreements with certain holders of its 2.75 percent convertible senior notes due 2027. Pursuant to these exchange agreements, the company agreed, subject to customary closing conditions, to repurchase an aggregate of $230 million in principal amount of existing convertible notes for aggregate consideration consisting of a number of shares of the company’s common stock, par value $0.001 per share, to be determined over an averaging period commencing on June 14, 2024, and cash in lieu of fractional shares and in respect of accrued interest on the existing convertible notes.

These exchange transactions are expected to close on or about June 25, 2024, the company said, subject to the satisfaction of customary closing conditions.