Nuvation Bio closes $250M 0.75% convertible senior notes offering due 2032

Nuvation Bio Inc.

$250M aggregate principal of 0.75% Convertible Senior Notes due 2032; initial conversion price ~$7.84/share (35% premium).
Net proceeds ~$241.2M; used to repay $58.5M loan, pay $14.9M for capped call, remainder for general corporate.
Capped call transactions entered to reduce dilution; cap price $10.4580/share (80% premium).
Underwriters' 30-day option for additional $37.5M notes.
Prior loan agreement terminated upon full repayment of ~$58.5M.

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