Syndax Announces Private Placement of $250.0 Million of Convertible Senior Notes
Syndax Pharmaceuticals has entered into agreements to issue $250 million of 2.25% Convertible Senior Notes due 2031. The notes carry an initial conversion price of $24.76 per share, representing a 35% premium to the June 3 closing price, which limits immediate dilution risk.
Key figures
- Deal Value Usd
- 250000000
- Net proceeds
- 243000000
- Interest rate
- 2.25%
- Maturity date
- June 15, 2031
- Conversion rate
- 40.3894 shares per $1,000
- Conversion price
- 24.76
- Premium to market
- 35%
AI analysis
The rest of the AI analysis, red flags and sentiment are part of Signal8 Pro.
AI-generated analysis of a public disclosure. Not investment advice; verify against the original document.