Kadmon Announces Pricing of $200 Million Convertible Senior Notes Offering with 100% Capped Call Transactions

Kadmon Holdings, Inc. (Nasdaq:KDMN) today announced the pricing of $200 million aggregate principal amount of 3.625% convertible senior notes due 2027 (the "Notes") in a private offering to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended. This offering was upsized from the previously announced offering of $150 million of aggregate principal amount of Notes and included 100% capped call transactions. Kadmon also granted the initial purchaser of the Notes a 13-day option to purchase up to an additional $40 million aggregate principal amount of the Notes, solely to cover over-allotments. The sale of the Notes is expected to close on February 16, 2021, subject to customary closing conditions.