KalVista Pharmaceuticals Inc. has announced a proposed private offering of $110.0 million aggregate principal amount of Convertible Senior Notes due 2031. The notes will be offered in a private placement to qualified institutional buyers under Rule 144A of the Securities Act of 1933. KalVista also plans to grant initial purchasers an option to buy up to an additional $15.0 million in principal amount of notes within 13 days of the initial issuance. The interest rate, initial conversion rate, offering price, and other terms will be determined upon pricing of the notes. Proceeds from the offering are expected to be used for working capital, general corporate purposes, and the commercialization of EKTERLY, with the possibility of future investments or acquisitions. The notes and any shares of common stock issuable upon conversion 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.