Nuvation Bio prices $250M convertible notes offering at 0.75%, convertible at $7.84/share

Filed June 29, 2026 · ~2 min read

Key Changes

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  Nuvation Bio is offering $250 million principal amount of 0.75% convertible senior notes due 2032, convertible at $7.84 per share (127.4941 shares per $1,000 note). The company will receive net proceeds of $241.2 million after underwriting fees and expenses.

  The Offering verify on EDGAR →
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  The company reported a GAAP net loss of $567.9 million in 2024, up sharply from $75.8 million in 2023, with an accumulated deficit of $910.7 million since inception. The company has never generated product revenue.

  Prospectus Summary verify on EDGAR →
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  Net proceeds will fund $14.9 million for capped call transactions (to reduce dilution), repay the $50 million secured loan in full, and support general corporate purposes including working capital and operating expenses.

  Use of Proceeds verify on EDGAR →