Nuvation Bio offers $200M convertible notes due 2032 to refinance debt and fund operations

Filed June 25, 2026 · ~2 min read

Key Changes

• high

  Nuvation Bio is offering $200 million principal amount of convertible senior notes due 2032 (plus up to $30 million via underwriters' over-allotment), convertible to Class A common stock at the company's election. Interest rate and conversion price are not yet disclosed in this preliminary prospectus.

  The Offering verify on EDGAR →
• high

  Proceeds will fund capped call transactions to reduce dilution, repay in full the $50 million Loan Agreement, and support general corporate purposes. After the offering and debt repayment, total consolidated indebtedness would increase from $55.8 million to $205.8 million.

  Use of Proceeds verify on EDGAR →
• medium

  The notes are unsecured and rank equal with $159.8 million of Financing Agreement liabilities, structurally junior to $32.6 million of subsidiary liabilities. The indenture does not limit future debt incurrence.

  The Offering verify on EDGAR →