Financing ·
Moderna, Inc. completed a private offering of $3 billion aggregate principal amount of 0.00% Convertible Senior Notes…
MRNAModerna, Inc.
Moderna, Inc. completed a private offering of $3 billion aggregate principal amount of 0.00% Convertible Senior Notes due March 1, 2032, including the full exercise of the initial purchasers' option to purchase an additional $400 million. The notes are general senior unsecured obligations with no regular interest and mature in 2032. Holders may convert the notes into common stock at an initial rate of 4.7487 shares per $1,000 principal amount (conversion price ~$210.58), subject to specific market conditions or upon maturity after December 1, 2031. Moderna entered into capped call transactions with a cap price of approximately $392.62 per share to offset potential dilution. Net proceeds were approximately $2,957.3 million, used to pay for the capped calls and for general corporate purposes, including oncology growth and debt repayment. Moderna is a biotechnology company specializing in mRNA-based vaccines and therapeutics.