Syndax raises $250M through convertible notes at 35% premium to fund R&D and commercialization

Filed June 4, 2026 · Period ending June 3, 2026 · ~1 min read

Key Changes

• high

  Syndax issued $250M of 2.25% convertible senior notes due 2031 in a private placement, netting approximately $243M after fees. Funds will support working capital, R&D, commercialization activities, and business development.

  Item 1.01 verify on EDGAR →
• high

  Notes convert at $24.76 per share (35% premium to June 3 stock price), potentially issuing up to 13.6M shares. Initial conversion rate is 40.39 shares per $1,000 principal, subject to anti-dilution adjustments.

  Item 1.01 & 3.02 verify on EDGAR →
• medium

  Company cannot redeem notes before June 20, 2029. After that date, redemption allowed only if stock trades above 130% of conversion price for 20 of 30 consecutive trading days.

  Item 1.01 verify on EDGAR →