Vaxcyte prices $500 million convertible senior notes offering due 2032
PCVX•Vaxcyte priced $500 million of 1.50% convertible senior notes due 2032, with an initial conversion price of $89.60 per share, 40% above the $64 stock offering price.
1. Offering terms
The notes will accrue interest semi-annually starting April 15, 2027, and mature Oct. 15, 2032. Underwriters have a 30-day option to purchase up to an additional $75 million of notes for over-allotments. Closing is expected Oct. 9, 2026, subject to customary conditions.
