Karyopharm closes $148M debt exchange for new 6% notes due 2029 and warrants, plus $100M credit facility

Karyopharm Therapeutics Inc.

Exchanged ~$148M of 3.00% convertible notes due 2025 for $111M of new 6.00% secured convertible notes due 2029.
Issued warrants to purchase up to ~46M shares of common stock as part of the exchange.
Entered into a $100M senior secured credit facility, with proceeds used partly to repay HCR facility and for general purposes.
The exchange extends debt maturity from 2025 to 2029, improving near-term liquidity but increasing interest cost and adding dilution potential.
New notes are secured and carry a 6% coupon versus the 3% on the exchanged notes.

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