secwatch.observer — SEC 8-K summary
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Issuer:     Innoviva, Inc. (INVA)
CIK:        0001080014
Form:       8-K
Filed at:   2022-03-21T23:59:59+00:00
Accession:  0001104659-22-036192
Event type: debt
Sentiment:  neutral
Materiality: 0.65
Item codes: 1.01, 2.03, 3.02
LLM model:  deepseek-v4-flash:cloud@v2

Innoviva closes additional $36M of 2.125% convertible notes due 2028; total notes now $261M
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- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1080014/000110465922036192/0001104659-22-036192-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1080014/000110465922036192/tm2210014d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-22-036192

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer