Syndax prices USD 250 million private sale of 2.25% convertible notes due 2031

Syndax Pharmaceuticals Inc

Syndax Pharmaceuticals Inc

SNDX

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  • Syndax Pharmaceuticals entered subscription agreements to privately place USD 250 million of 2.25% Convertible Senior Notes due 2031, closing expected June 10.
  • Net proceeds seen at about USD 243 million, earmarked for general corporate purposes, including R&D, commercialization, working capital.
  • Initial conversion rate set at 40 shares per USD 1,000, implying an initial conversion price of about USD 24.76, a roughly 35% premium.
  • Neither the Convertible Senior Notes nor any shares issuable on conversion are registered under the Securities Act.


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