Ironwood Pharmaceuticals, Inc. completed the issuance and sale to, and purchase by, the purchasers, of $150,000,000 in aggregate principal amount of 8.375% Notes due 2026. The Notes were issued and sold in connection with the direct private placement previously announced by the company on September 26, 2016 and are governed by the indenture, dated September 23, 2016, by and between the company and U.S. Bank National Association, as trustee. On the Funding Date, the proceeds from the issuance of the Notes were used to redeem the outstanding approximately $134 million in principal amount of the company's Linaclotide PhaRMASM 11% Notes due 2024, which were issued pursuant to the indenture, dated January 4, 2013, by and between the Company and U.S. Bank National Association, as trustee and operating bank. The PhaRMA Notes were redeemed at a redemption price equal to 100% of the outstanding principal balance of such PhaRMA Notes. In addition, the Company paid accrued and unpaid interest on the PhaRMA Notes to, but excluding, the Funding Date. As a result, the Company's obligations under the Indenture have been discharged.