Moderna has completed its previously announced private offering of $3.0 billion in aggregate principal amount of 0.00% Convertible Senior Notes due 2032. This total includes the full exercise of the initial purchasers' option to acquire an additional $400 million in notes. The company received net proceeds of approximately $2.957 billion from the offering.
Key Details
- Offering Terms: The notes are senior unsecured obligations, bear no regular interest, and will mature on March 1, 2032, unless converted, redeemed, or repurchased earlier.
- Conversion Price: The initial conversion price is approximately $210.58 per share, representing a 47.5% premium over the closing stock price of $142.77 on August 27, 2026.
- Use of Proceeds: The company used $328.8 million of the net proceeds to fund capped call transactions intended to reduce potential dilution upon conversion. The remaining proceeds are for general corporate purposes, including investing in its oncology business and debt repayment.