KDMN - Kadmon dips after $150M convertible notes offering proposal

Kadmon Holdings (KDMN) is down 10.3% post-market after proposing $150M private offering of convertible senior notes due 2027. Initial conversion rate, interest rate and other final terms not yet determined.The company also expects to grant the initial purchaser a 13-day option to purchase up to an additional $30M of notes.In connection with the notes pricing, Kadmon expects to enter into capped call transactions, which will cover, subject to customary adjustments, the number of shares of common stock initially underlying the notes.Press Release

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Kadmon dips after $150M convertible notes offering proposal