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Nuvation Bio to Launch $200 Million Senior Notes Offering; Shares Fall Pre-Bell

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Nuvation Bio (NUVB) said Thursday it plans to offer $200 million worth of convertible senior notes due 2032 in an underwritten offering.

The company said it will grant the underwriters the right to purchase up to an additional $30 million of notes to cover any overallotments.

Net proceeds from the offering will be used to pay the cost of capped call transactions, repay all obligations under its senior secured loan agreement, and for general corporate purposes, such as working capital, operating expenses, capital expenditures and general and administrative expenses.

Shares of Nuvation Bio declined more than 9% in recent pre-bell activity Thursday.

Price: $5.83, Change: $-0.63, Percent Change: -9.75%

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