 NEW YORK, Aug. 10, 2021 GLOBE NEWSWIRE -- Intercept Pharmaceuticals, Inc. Nasdaq: ICPT Intercept, a biopharmaceutical company focused on the development and commercialization of novel therapeutics to treat progressive non-viral liver diseases, announced today that it has entered into privately negotiated agreements with certain of the holders of its existing i 3.25 Convertible Senior Notes due 2023 the 2023 Notes and ii 2.00 Convertible Senior Notes due 2026 the 2026 Notes to exchange an aggregate of 306.5 million principal amount of 2023 Notes and an aggregate of 114.7 million principal amount of 2026 Notes for a newly issued series of Convertible Senior Secured Notes due 2026 the New Notes and such transactions, the Exchange. Intercept will also sell approximately 117.6 million aggregate principal amount of New Notes for cash the Subscription and, together with the Exchange, the Transactions. The Transactions are expected to close promptly, subject to and following customary closing conditions. In the aggregate, Intercept expects to issue approximately 500.0 million aggregate principal amount of New Notes to the participating holders. 