Moderna Announces Pricing of Upsized $2.6 Billion Offering of Convertible Senior Notes
Moderna priced an upsized $2.6 billion offering of 0.00% Convertible Senior Notes due 2032, increasing the deal size from the previously announced $2.0 billion. The notes carry an initial conversion price of $210.58 per share, a 47.5% premium to the prior close, and the company entered into capped call transactions to mitigate dilution at a cost of approximately $285 million.
Key figures
- Deal Value Usd
- 2600000000
- Cap price
- $392.6175
- Hedge cost
- $285.0 million
- Net proceeds
- $2,562.9 million
- Conversion price
- $210.58
- Conversion premium
- 47.5%
- Additional option amount
- $400.0 million
AI analysis
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