$MRNA (MODERNA) — 8-K: Moderna proposes $2.0 billion convertible senior notes due 2032 private placement

Moderna intends to offer $2.0 billion aggregate principal amount of Convertible Senior Notes due 2032 to qualified institutional buyers under Rule 144A, with an initial purchaser option for up to an additional $300.0 million. The notes will not bear regular interest and the principal amount will not accrete. Proceeds will fund capped call transactions and general corporate purposes, which may include investing in oncology growth and repayment of debt. The capped call cap price is anticipated to initially represent a premium of at least 150% over the last reported sale price of the common stock on the pricing date.

Moderna intends to offer $2.0 billion aggregate principal amount of Convertible Senior Notes due 2032 to qualified institutional buyers under Rule 144A, with an initial purchaser option for up to an additional $300.0 million. The notes will not bear regular interest and the principal amount will not accrete. Proceeds will fund capped call transactions and general corporate purposes, which may include investing in oncology growth and repayment of debt. The capped call cap price is anticipated to initially represent a premium of at least 150% over the last reported sale price of the common stock on the pricing date.