Loan & DebtJul 6, 2026, 05:22 PM
Nuvation Bio Completes $287.5M Convertible Notes Offering
AI Summary
Nuvation Bio Inc. announced the full exercise of the underwriters' over-allotment option, resulting in the issuance of an additional $37.5 million aggregate principal amount of 0.75% Convertible Senior Notes due 2032. This brings the total principal amount of Notes sold in the offering to $287.5 million. The company estimates net proceeds of approximately $277.6 million, which will be used for additional capped call transactions and general corporate purposes.
Key Highlights
- Underwriters fully exercised $37.5 million over-allotment option for Notes.
- Total principal amount of Convertible Senior Notes sold reached $287.5 million.
- Estimated net proceeds from the offering are approximately $277.6 million.
- Notes bear 0.75% interest annually and mature on July 1, 2032.
- Approximately $2.2 million from Greenshoe Exercise used for capped call transactions.
- Capped call transactions have a cap price of $10.4580.
Price Impact
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