04:23 AM EDT, 09/17/2025 (MT Newswires) -- Cytokinetics ( CYTK ) said late Tuesday it priced a $650 million private placement of 1.75% convertible senior notes due Oct. 1, 2031, upsized from a previously planned $550 million.

Initial purchasers have an overallotment option to buy up to an additional $100 million of the notes.

The company said the offering is expected to generate about $632 million in net proceeds, of which $402.5 million will go toward funding certain note exchange transactions. Under those transactions, Cytokinetics ( CYTK ) plans to issue about 2.2 million common shares in exchange for roughly $399.5 million of its 3.5% convertible senior notes due 2027.

The company said the offering is expected to close Friday.

Cytokinetics ( CYTK ) shares were up 2.6% in recent premarket activity Wednesday.