Viking Therapeutics prices $225 million convertible senior notes offering
VKTX•Viking Therapeutics priced an upsized $225 million offering of 2.00% convertible senior notes due 2032, with estimated net proceeds of about $218 million primarily for VK2735 and VK3019 development.
1. Offering details
The notes are scheduled to settle Sept. 25, subject to customary closing conditions. Underwriters have a 30-day option to purchase up to an additional $33.75 million principal amount to cover over-allotments. The notes initially convert at 19.7044 shares per $1,000 principal amount, implying a conversion price of about $50.75.
