Moderna Raises $2 Trillion in Convertible Notes, Adds $300M Option
ModernaSigSignificance4.38SenSentiment+4.93EnvEnvironment+0.03SocSocial+2.09GovGovernance+0.62
The Cambridge, Massachusetts-based biotech structured a convertible notes offering to include an option for purchasers to acquire up to $300 million more in notes, per a statement. Moderna’s stock fell 5% in premarket trading in New York after the announcement. The deal is described as a way to secure borrowing conditions after a sharp share-price increase.
Coverage (6)
- Moderna raises $2.6B to support cancer work; FDA clears updated COVID vaccines (biopharmadive.com)
- FDA approves updated COVID-19 vaccines from Pfizer & Moderna, companies say (turnto10.com)
- FDA approves updated COVID-19 vaccines from Pfizer & Moderna, companies say (bakersfieldnow.com)
- FDA approves updated COVID-19 vaccines from Pfizer & Moderna, companies say (cbsaustin.com)
- Moderna raises $2 trillion in convertible notes for cancer vaccine (qz.com)
- FDA approves updated COVID-19 vaccines from Pfizer & Moderna, companies say (abcstlouis.com)