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The biotech company will sell notes due 2032, with an option to raise an additional $300 million, days after its stock hit a multi-year high
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Moderna $MRNA plans to raise $2 billion by selling convertible senior notes due 2032, with proceeds earmarked for its cancer vaccine business and debt repayment, the company said Thursday.
The Cambridge, Massachusetts-based biotechnology company structured the offering to include an option for purchasers to acquire up to $300 million more in notes, per a statement. Moderna stock fell 5% in premarket trading in New York after the announcement.
