KalVista Pharmaceuticals, Inc. (NASDAQ: KALV) announced today that it intends to offer, subject to market conditions and other factors, $110.0 million aggregate principal amount of Convertible Senior Notes due 2031 in a private placement to qualified institutional buyers under Rule 144A of the Securities Act.
The proposed notes are senior, convertible debt that will mature in 2031. While the offering is still contingent on market conditions, the company has positioned the transaction to provide additional liquidity to support the launch of its first commercial product, EKTERLY, and to fund future pipeline initiatives.
This financing follows a recent $125 million convertible senior notes offering that was priced on September 24, 2025, and represents a continued effort by KalVista to strengthen its balance sheet as it transitions from a development‑stage to a commercial‑stage company. The capital raised will help extend the company’s runway and support the expansion of its U.S. commercial infrastructure and global market‑access efforts.
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