India, June 4 -- Syndax Pharmaceuticals (SNDX), a commercial-stage biopharmaceutical company, on Thursday reported entering a privately negotiated subscription agreement.
The agreement confirms the issuance of a $250 million aggregate principal amount of 2.25% convertible senior notes, due 2031.
The notes will accrue an interest rate of 2.25% payable semiannually in arrears on June 15 and December 15 of each year, beginning on December 15, 2026.
The conversion rate will be 40.3894 shares of common stock per $1,000 principal amount of notes, equivalent to $24.76 per share.
The notes are redeemable on or after June 20, 2029, and will mature on June 15, 2031.Sale of the notes is expected to close on June 10, 2026.
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