Davis Polk acted as special product counsel to the representatives of the initial purchasers in connection with an SEC-registered offering by Intercept Pharmaceuticals, Inc. of an aggregate principal amount of $460 million of its 3.25% convertible senior notes due 2023, which included $60 million aggregate principal amount of convertible senior notes issued pursuant to the exercise in full of the initial purchasers’ over-allotment option. In addition, Davis Polk advised the counterparties to capped call transactions in connection with the offering.

Headquartered in New York, New York, Intercept Pharmaceuticals, Inc. is a biopharmaceutical company focused on the development and commercialization of novel therapeutics to treat non-viral, progressive liver diseases.

The Davis Polk equity derivatives team included partner John M. Brandow and associates Barry J. Gewolb, Mark J. DiFiore, Won Lee and Caitlin L. Wood. The tax team included partner Lucy W. Farr and associate Aliza Slansky. All members of the Davis Polk team are based in the New York office.

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