South San Francisco, Calif. — September 16, 2025 — Leads & Copy — Cytokinetics, Incorporated (Nasdaq: CYTK) has announced its intention to offer $550 million in convertible senior notes due in 2031 in a private placement, subject to market conditions. The company also intends to grant initial purchasers an option to buy an additional $82.5 million in notes.
The notes, which are senior and unsecured, will accrue interest payable semi-annually and mature on October 1, 2031, unless earlier converted, redeemed, or repurchased. Noteholders can convert their notes under certain conditions, with Cytokinetics settling conversions through cash, shares, or a combination of both. The interest rate, conversion rate, and other terms will be determined at pricing.
Cytokinetics plans to use the net proceeds to pay the cash portion of consideration in note exchange transactions and to support the potential launch of aficamten, expand its development program, advance its pipeline, and for general corporate purposes.
The company also expects to exchange a portion of its 3.50% convertible senior notes due 2027 in privately negotiated transactions, with terms depending on the market price of Cytokinetics’ common stock and the trading price of the 2027 notes. Hedged holders of the 2027 notes are expected to unwind their hedge positions, which could affect the market price of Cytokinetics’ common stock.
The offering and any related shares have not been registered under the Securities Act and may not be offered or sold in the United States without registration or an applicable exemption.
Contact: Diane Weiser, Senior Vice President, Corporate Affairs, (650) 624-3060
