Tempus AI Inc. said it intends to raise about $400 million through a private offering of convertible senior notes maturing in 2030, with initial purchasers granted an option to buy up to an additional $60 million of the securities. The Chicago-based precision-medicine company plans to use roughly $275 million of the proceeds to repay outstanding term loans and apply the remainder toward capped-call transactions designed to reduce dilution if the notes are converted into equity. The securities will be convertible into cash, Tempus AI stock, or a combination of both, subject to customary conditions. Tempus AI shares fell about 2.9% in pre-market trading after the announcement.