SNDX Syndax Pharmaceuticals Inc
Price Chart
Executive Summary
Syndax Pharmaceuticals issued $250 million aggregate principal amount of 2.25% Convertible Senior Notes due 2031 in a private placement, generating net proceeds of approximately $243 million. The company plans to use the funds for general corporate purposes including R&D, commercialization, and business development. The notes are convertible into common stock at an initial rate of 40.3894 shares per $1,000 principal, with a maximum potential dilution of up to 13,631,400 shares.
Key Financial Metrics
Actionable Insight
Monitor for use of proceeds toward pipeline catalysts (revumenib, entinostat) and any subsequent equity issuances that could accelerate dilution. The convertible structure provides a low-cost financing source (2.25% coupon) but creates overhang given the conversion premium. Watch for any fundamental change events that could trigger note repurchase rights.
Key Facts
- Issued $250 million aggregate principal amount of 2.25% Convertible Senior Notes due 2031
- Net proceeds of approximately $243 million after fees and expenses
- Initial conversion rate of 40.3894 shares per $1,000 principal amount of Notes
- Maximum of 13,631,400 shares of common stock may be issued upon conversion
- Notes mature on June 15, 2031
- Interest payable semi-annually at 2.25% per year
- Notes are not redeemable by the company prior to June 20, 2029
- Proceeds to be used for general corporate purposes including R&D, commercialization, and business development
Financial Impact
$250 million convertible note issuance with $243 million net proceeds; potential dilution of up to 13.6 million shares (approximately 8-10% of current shares outstanding based on $1.6B market cap)
Risk Factors
- Potential dilution of up to 13.6 million shares upon conversion
- Interest expense of ~$5.6 million annually on the notes
- Conversion may be accelerated if stock price trades above 130% of conversion price for 20 of 30 consecutive trading days
- Fundamental change events could trigger mandatory repurchase at 100% of principal plus accrued interest
Market Snapshot
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001193125-26-266027 |
| Document: d105044dex42.htm | 0001193125-26-266027 |
| Document: d105044d8k.htm | 0001193125-26-266027 |
| Document: 0001193125-26-266027-index-headers.html | 0001193125-26-266027 |
| Document: 0001193125-26-266027-index.html | 0001193125-26-266027 |
| Document: 0001193125-26-266027.txt | 0001193125-26-266027 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
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Jun 11, 2026
5d ago
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Press Release
| $17.91 $18.25 | ▲ +1.90% | ▲ +1.36% | $18.55 (+3.57%) |
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Jun 10, 2026
6d ago
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8-K
| $17.91 $18.25 | ▲ +1.90% | ▲ +1.36% | $18.55 (+3.57%) |
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Jun 4, 2026
12d ago
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Press Release
| $17.34 $16.96 | ▼ −2.19% | ▼ −2.42% | $18.55 (+6.98%) |
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Jun 4, 2026
12d ago
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DEFA14A
| $18.02 $17.34 | ▼ −3.77% | ▼ −1.18% | $18.55 (+2.94%) |
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Jun 4, 2026
12d ago
|
8-K
| $18.02 $17.34 | ▼ −3.77% | ▼ −1.18% | $18.55 (+2.94%) |
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Apr 30, 2026
6w ago
|
DEFA14A
| $19.11 $19.96 | ▲ +4.45% | ▲ +4.79% | $18.55 (−2.93%) |
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Apr 24, 2026
7w ago
|
Press Release
| $21.39 $21.00 | ▼ −1.82% | ▼ −1.99% | $18.55 (−13.28%) |
US Market Status
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