BOSTON, April 19, 2018 (GLOBE NEWSWIRE) -- Paratek Pharmaceuticals, Inc. (Nasdaq:PRTK), a biopharmaceutical company focused on the development and commercialization of innovative therapies based upon tetracycline chemistry, today announced the pricing of $140 million aggregate principal amount of convertible senior subordinated notes that will mature on May 1, 2024, of which $5 million aggregate principal amount is being issued directly by Paratek to Paratek’s financial advisor in the transaction. The notes are being offered and sold only to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended. Paratek has also granted the initial purchasers of the notes an option to purchase up to an additional $25 million aggregate principal amount of the notes. The sale of the notes to the initial purchasers is expected to settle on April 23, 2018, subject to customary closing conditions.

About Paratek Pharmaceuticals, Inc.

Paratek Pharmaceuticals, Inc. is a biopharmaceutical company focused on the development and commercialization of innovative therapies based upon its expertise in novel tetracycline chemistry. Paratek has used its expertise in biology and tetracycline chemistry to create chemically diverse and biologically distinct small molecules derived from the minocycline core structure. Paratek’s two lead product candidates are the antibacterials, omadacycline and sarecycline.