Moderna Completes $3 Billion Convertible Notes Offering Due 2032

Moderna completed a private offering of $3.0 billion of 0.00% convertible senior notes due March 2032, including the full exercise of a $400 million purchase option, with U.S. Bank Trust Company, National Association serving as trustee. The notes have an initial conversion price of approximately $210.58 per share, while privately negotiated capped calls with certain financial institutions are intended to reduce potential dilution, and Moderna expects to use approximately $2.96 billion in net proceeds for general corporate purposes, including oncology investment and debt repayment.