debt
confidence high
sentiment neutral
materiality 0.65
Innoviva closes additional $36M of 2.125% convertible notes due 2028; total notes now $261M
Innoviva, Inc.
- Issued $36M aggregate principal additional convertible notes; net proceeds ~$34.5M after discounts and expenses.
- Notes mature 2028, same terms as $225M initial notes; capped call transactions entered to limit dilution.
- Capped call cap price initially $33.9850/share (~75% premium to March 2 closing price).
- Up to 1,853,759 shares issuable upon conversion of additional notes; total across all notes up to 13,439,751 shares.
- Proceeds used $2.9M for capped call costs; remainder for general corporate purposes.