The offering, which reached its full capacity through the so-called Greenshoe Exercise, provides the company with approximately $277.6 million in net proceeds after accounting for underwriting discounts and related expenses. To manage the potential dilution associated with the notes, Nuvation Bio entered into additional capped call transactions at a price of $10.4580, representing an 80% premium over the share price recorded on June 25, 2026. The firm allocated $2.2 million to cover the cost of these transactions.
Nuvation Bio Secures $287.5 Million via Convertible Note Offering
Nuvation Bio has finalized a $287.5 million capital raise after underwriters exercised their full over-allotment option for the company’s 0.75% convertible senior notes. The move, which includes an additional $37.5 million in notes, bolsters the oncology firm’s balance sheet as it continues to advance its clinical-stage pipeline.
Management intends to deploy the remaining capital toward general corporate functions, including working capital requirements, operating expenses, and ongoing administrative costs. These funds arrive as the company progresses its primary drug candidates, including the ROS1 inhibitor taletrectinib and the IDH1 inhibitor safusidenib. The offering was conducted under an effective registration statement previously filed with the Securities and Exchange Commission.
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