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Biotech / Medical : ImmunityBio converts from Immunomedics
IBRX 6.965+15.3%Feb 9 3:59 PM EST
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To: zagnut1 who wrote (1387)1/28/2026 6:34:32 PM
From: zagnut1  Read Replies (1) of 1402
 
Chat gbt provided:
Yes — ImmunityBio (ticker: IBRX) has a significant $505 million convertible promissory note held by an entity affiliated with Dr. Patrick Soon-Shiong, and that is effectively a loan from him / his affiliated investment vehicle. According to the company’s SEC filings, as of late 2024 the company’s indebtedness included a $505 million convertible promissory note held by Nant Capital, LLC (an entity affiliated with Dr. Soon-Shiong), which can be converted into IBRX shares under specified conditions.

Most recently (January 23, 2026), ImmunityBio filed an amendment to that note to allow the holder to convert any portion of the $505 million principal into common stock before maturity — a change that increases flexibility but also raises the possibility of dilution for existing shareowners.
?? How does the $505M note relate to the stock price?


Here’s how investors interpret and price this kind of financing:

1. Conversion risk and dilution impacts the stock price

  • Because this is a convertible instrument, Dr. Soon-Shiong’s affiliate can exchange debt for shares. If this happens, the total share count would rise, diluting existing equity and putting downward pressure on the stock price — at least in theory

2. Stock price around the time of the amendment

  • Around January 26–27, 2026, IBRX was trading roughly in the mid-$6 range (for example around ~$6.20–$6.45 per share), and news of the amended $505 million convertible note was associated with a small stock dip as traders weighed the possible dilution risk.
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