04:14 AM EDT, 09/25/2025 (MT Newswires) -- KalVista Pharmaceuticals ( KALV ) said late Wednesday it priced a private placement to eligible purchasers of $125 million principal amount of 3.25% convertible senior notes due 2031.

The initial purchasers have been granted a 13-day option to purchase up to $18.8 million additional amount of notes.

The notes will be convertible at an initial rate of $16.81 per share.

Net proceeds, estimated to be about $120.8 million to $139 million, will be used for potential investments and acquisitions, commercialization activities, working capital and general corporate purposes, the company said.

The offering, which has been upsized from $110 million, is expected to close on Sept. 29, subject to customary closing conditions.