Thursday, August 27, 2026
Moderna to raise $2 billion in convertible senior notes
Moderna announced on August 27 a proposed private placement of $2.0 billion of convertible senior notes due 2032, with an option for initial purchasers to buy up to $300 million more. The company plans to use proceeds to expand its oncology business, including its Merck-partnered melanoma vaccine program, and to repay existing debt, while a planned capped-call transaction aims to limit dilution; shares fell in premarket trading on the announcement.
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