Vaxcyte closes $650 million convertible senior notes offering
PCVX•Vaxcyte closed a $575 million offering of 1.50% convertible senior notes due 2032, including a fully exercised $75 million option; gross proceeds from concurrent equity, warrant and note offerings totaled about $1.15 billion.
1. Offering proceeds
Vaxcyte closed a $575 million offering of 1.50% convertible senior notes due 2032. Underwriters fully exercised an option to purchase an additional $75 million of notes to cover over-allotments. Net proceeds are earmarked for VAX-31 clinical development, manufacturing scale-up and launch preparation.
