Nuvation Bio slides on planned $200 mln convertible offering
BUZZ-Nuvation Bio slides on planned $200 mln convertible offering ** Cancer treatment firm Nuvation Bio's NUVB.N shares down 7.1% to $6 and threatening to snap 5-day winning streak on Thurs as it seeks capital raise
** NUVB announces public offering of $200 mln convertible bonds due 2032
** Co intends to use net offering proceeds to fully repay loan agreement, and for general purposes, including working capital, opex and capex
** Also expects to use some proceeds to pay cost of capped call transactions to mitigate potential dilution
** Jefferies, Citigroup and Cantor Fitzgerald joint bookrunners, joined by RBC
** New York City-based NUVB has roughly $2 bln market cap
** With the decline, stock down 33% YTD
** Avg rating of 11 analysts is "buy"; median PT $12, per LSEG data
(Lance Tupper is a Reuters market analyst. The views expressed are his own)
((lance.tupper@tr.com 1-646-279-6380))