Tempus AI finalized its upsized offering of $400 million in 0.00% Convertible Senior Notes due 2032. The offering increased from the initial $350 million announced on May 7 due to strong investor demand. The sale was scheduled for completion on May 12, 2026, subject to customary closing conditions.
Net proceeds from the sale are estimated at $384.1 million. This total could reach $441.9 million if initial purchasers fully exercise their option to buy additional notes.
Tempus will use the funds to repay existing debt from its senior secured credit facilities. Remaining capital is earmarked for capped call transactions and general corporate purposes, including potential strategic acquisitions.