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Nuvation Bio Prices $250 Million Convertible Bond Offering

BY MT Newswires | CORPORATE | 04:22 AM EDT

04:22 AM EDT, 06/26/2026 (MT Newswires) -- Nuvation Bio (NUVB) has priced its underwritten offering of $250 million of 0.75% convertible senior notes due in 2032, the oncology treatment company announced late Thursday.

Nuvation Bio (NUVB) has also extended to the underwriters an option, or greenshoe, to purchase an additional $37.5 million of the notes.

Nuvation Bio (NUVB) expects net proceeds from the offering will be $241.2 million, or $277.6 million if the greenshoe is exercised, after deducting related expenses.

The notes are convertible into Nuvation Bio (NUVB) shares at 127.5 shares per $1,000 principal amount of notes, or $7.84 a share, which represents a conversion premium of 35.0% to the closing price of the company's shares on the NYSE on Thursday.

Initially, Nuvation Bio (NUVB) had announced the size of the convertible note offering was to be $200 million.

Nuvation Bio (NUVB) expects to use net offering proceeds to repay in full its senior secured loan agreement, and for general corporate purposes.

MT Newswires does not provide investment advice. Unauthorized reproduction is strictly prohibited.

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In general the bond market is volatile, and fixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usually more pronounced for longer-term securities.) Fixed income securities also carry inflation risk and credit and default risks for both issuers and counterparties. Unlike individual bonds, most bond funds do not have a maturity date, so avoiding losses caused by price volatility by holding them until maturity is not possible.

Lower-quality debt securities generally offer higher yields, but also involve greater risk of default or price changes due to potential changes in the credit quality of the issuer. Any fixed income security sold or redeemed prior to maturity may be subject to loss.

Before investing, consider the funds' investment objectives, risks, charges, and expenses. Contact Fidelity for a prospectus or, if available, a summary prospectus containing this information. Read it carefully.

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