Nuvation Bio Inc. announced that the underwriters for its recent convertible senior notes offering fully exercised their over-allotment option. This exercise adds an additional $37.5 million in principal amount, increasing the total size of the offering to $287.5 million and resulting in estimated net proceeds of approximately $277.6 million.
Key Details
- Greenshoe Exercise: On June 30, 2026, underwriters fully exercised their 30-day option to purchase an additional $37.5 million in aggregate principal amount of notes.
- Total Offering Size: The aggregate principal amount of 0.75% Convertible Senior Notes due 2032 sold now totals $287.5 million.
- Net Proceeds: The company estimates total net proceeds of approximately $277.6 million after deducting underwriting discounts, commissions, and other expenses.
- Use of Proceeds: A portion of the proceeds (approx. $2.2 million) was used to fund additional capped call transactions, with the remainder intended for general corporate purposes.