KDMN - Kadmon stock down after pricing $200M convertible debt offering

Kadmon Holdings ([[KDMN]] -8.8%) has priced upsized $200M (from $150M) of 3.625% convertible senior unsecured notes due February 15, 2027 in a private offering.Initial purchaser granted an option to purchase up to an additional $40M of the notes.Offering is expected to close on February 16. Net proceeds estimated to be ~$194M (or ~$233M if the initial purchaser exercises its over-allotment option in full). Proceeds will be used to prepare to commercialize belumosudil for chronic graft-versus-host disease in the United States, for the development of other clinical-stage product candidates, for the discovery, research and preclinical studies of its other product candidates, other general corporate purposes and to fund the cost of entering into the capped call transactions.

For further details see:

Kadmon stock down after pricing $200M convertible debt offering