Syndax Pharmaceuticals - issues $250 mln of 2.25% convertible senior notes due 2031 - SEC filing

Syndax Pharmaceuticals, Inc. (NASDAQ: SNDX) has issued $250.0 million aggregate principal amount of 2.25% Convertible Senior Notes due 2031 as part of a private placement. The transaction, which closed on June 10, 2026, is expected to generate net proceeds of approximately $243 million after deducting placement agent fees and estimated expenses. J. Wood Capital Advisors LLC served as the sole placement agent for the offering.

The Notes are senior unsecured obligations of Syndax and will accrue interest semiannually, payable on June 15 and December 15 of each year, beginning December 15, 2026. The Notes mature on June 15, 2031, unless earlier converted, redeemed, or repurchased. Holders may convert the Notes under certain conditions, with an initial conversion price of approximately $24.76 per share, representing a 35% premium over the last reported sale price of Syndax’s common stock on June 3, 2026.

The net proceeds will be used for general corporate purposes, including working capital, research and development, commercialization activities, and business development. The Notes and any shares issued upon conversion are not registered under the Securities Act and are subject to resale restrictions.