04:20 PM EDT, 09/24/2025 (MT Newswires) -- KalVista Pharmaceuticals ( KALV ) said late Wednesday it plans to issue $110 million of convertible senior notes due 2031 in a private placement, subject to market conditions.

KalVista plans to give initial purchasers an option to buy up to an additional $15 million of notes.

Net proceeds from the planned offering will be for working capital and other general corporate purposes, the company said, adding it may also use part of the proceeds for investments in and acquisitions of other companies, products or technologies.

The company's shares were down 9.1% in after-hours activity.