Moderna Inc.

Moderna announced a private placement of senior, unsecured convertible notes with an aggregate principal amount of $2.0 billion maturing in 2032, with a 13-day greenshoe option of up to $300 million. The notes pay no ongoing interest; upon conversion Moderna may, at its option, settle in cash, shares or a combination. Net proceeds are intended for capped-call transactions and general corporate purposes, including expansion of its oncology business and debt reduction. The capped-call transactions are intended to mitigate dilution; the initial cap price will be at least 150% above the last closing price on the pricing date. » Más en de.investing.com

Moderna announced a private placement of senior, unsecured convertible notes totaling $2.0 billion due 2032, plus a 13-day option for up to $300 million. The notes will be offered to qualified institutional buyers under Rule 144A, do not pay regular interest, and may be settled upon conversion in cash, common stock, or a combination of both. Net proceeds are to be used for general corporate purposes, including expanding the oncology business, repaying indebtedness, and financing capped-call hedging, with the initial cap price to be at least 150% above the last reported share price; the announcement pushed the stock down by about 5%. » Más en de.investing.com

Moderna shares fell intraday by about 5.6% to $149.87 after profit-taking and a revaluation following the post‑Phase 3 rally on the Intismeran results with Merck. analyst targets such as Barclays ($125) and JPMorgan ($77) remain well below the market price, increasing volatility. Moderna most recently reported a net loss of $782m on $145m in revenue, and material revenue from the personalized mRNA cancer therapy is unlikely for several years due to regulatory and commercial hurdles. the broader market and the biotech sector are currently offering little support, leaving the stock vulnerable to further pullbacks. » Más en de.investing.com