debt
confidence high
sentiment neutral
materiality 0.75
Celcuity issues $201.25M of 2.750% convertible notes due 2031; net proceeds ~$194.5M
Celcuity Inc.
- Issued $201.25M aggregate principal of 2.750% Convertible Senior Notes due 2031; initial conversion price ~$51.30/share.
- Net proceeds of ~$194.5M after underwriting discounts and expenses; over-allotment option exercised in full.
- Notes mature Aug 1, 2031; interest payable semiannually; redeemable at company's option after Aug 6, 2029 under conditions.
- Company elected physical settlement for any conversions; notes are unsecured senior obligations.
- Proceeds intended for working capital, R&D, clinical trials, and commercial launch expenditures.
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