KalVista Pharmaceuticals announced on September 24, 2025, the pricing of an upsized offering of $125.0 million aggregate principal amount of 3.250% Convertible Senior Notes due 2031. The notes were offered in a private placement to persons reasonably believed to be qualified institutional buyers. This offering was upsized from the previously announced $110.0 million.
The proceeds from this convertible senior notes offering are intended to further strengthen KalVista's balance sheet and provide capital for its ongoing operations. This includes supporting the commercialization of EKTERLY, its recently approved oral on-demand treatment for hereditary angioedema (HAE), and advancing its pipeline programs. The upsized nature of the offering indicates robust investor interest.
This financing move enhances KalVista's financial flexibility, allowing it to continue investing in its growth initiatives without immediate equity dilution. The additional capital is crucial for sustaining the global launch of EKTERLY and progressing its preclinical oral Factor XIIa inhibitor program, which is currently under strategic review.
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