On February 22, 2024, Bristol-Myers Squibb successfully completed a significant public offering of various notes totaling $11.25 billion. The offering included Floating Rate Notes due 2026 and Fixed Rate Notes with maturity dates ranging from 2026 to 2064, with interest rates between 4.900% and 5.650%. The notes were issued under an Indenture agreement with The Bank of New York Mellon as trustee. Bristol-Myers Squibb intends to allocate a portion of the net proceeds towards funding its proposed acquisitions of Karuna Therapeutics, Inc. and RayzeBio, Inc., as well as related fees and expenses. Remaining proceeds are earmarked for general corporate purposes. The offering is not dependent on the completion of the acquisitions; however, if the acquisition of Karuna does not occur by a specified date, the company will be required to redeem the notes at a price of 101% of their aggregate principal amount plus accrued interest. The notes were sold under an underwriting agreement dated February 14, 2024, with the terms detailed in a Prospectus Supplement filed with the SEC.

On February 22, 2024, Bristol-Myers Squibb successfully completed a significant public offering of various notes totaling $11.25 billion. The offering included Floating Rate Notes due 2026 and Fixed Rate Notes with maturity dates ranging from 2026 to 2064, with interest rates between 4.900% and 5.650%. The notes were issued under an Indenture agreement with The Bank of New York Mellon as trustee. Bristol-Myers Squibb intends to allocate a portion of the net proceeds towards funding its proposed acquisitions of Karuna Therapeutics, Inc. and RayzeBio, Inc., as well as related fees and expenses. Remaining proceeds are earmarked for general corporate purposes. The offering is not dependent on the completion of the acquisitions; however, if the acquisition of Karuna does not occur by a specified date, the company will be required to redeem the notes at a price of 101% of their aggregate principal amount plus accrued interest. The notes were sold under an underwriting agreement dated February 14, 2024, with the terms detailed in a Prospectus Supplement filed with the SEC.