Vaxcyte down after starting $1 billion stock and convertible offerings
PCVX•Vaxcyte began public offerings of $500 million in stock and pre-funded warrants and $500 million in convertible bonds due Oct. 15, 2032. It intends to use proceeds to fund VAX-31 clinical development and other programs.
1. Offering details
Vaxcyte commenced public offerings of $500 million in stock and pre-funded warrants and $500 million in convertible bonds due Oct. 15, 2032. The company intends to use the net proceeds to fund its VAX-31 adult and pediatric programs, including the ongoing adult Phase 3 program, and a trial evaluating its seasonal influenza vaccine.
