Novavax launches $150M convertible notes (5% due 2027) and 6.5M share offering at $10

NOVAVAX INC

Common stock offering of 6.5M shares at $10.00; underwriters fully exercised option for 975k additional shares.
Convertible notes offering upsized to $150M aggregate principal; initial purchasers granted option for $25.25M more.
Notes bear 5.00% interest, mature Dec 15, 2027; initial conversion price $12.50 per share (25% premium to stock offering price).
Both offerings expected to close Dec 20, 2022; neither is contingent on the other.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

NOVAVAX INC entered into Underwriting Agreement with J.P. Morgan Securities LLC, Jefferies LLC and Cowen and Company, LLC, as representatives of the several underwriters valued at 6,500,000 shares of common stock at a public offering price of $10.00 per share (effective 2022-12-15).

Action: entry
Agreement: underwriting
Counterparty: J.P. Morgan Securities LLC, Jefferies LLC and Cowen and Company, LLC, as representatives of the several underwriters
Value: 6,500,000 shares of common stock at a public offering price of $10.00 per share
Effective: 2022-12-15

Exact text from the filing

On December 15, 2022, Novavax, Inc. (the “Company”) entered into an underwriting agreement (the “Underwriting Agreement”) with J.P. Morgan Securities LLC, Jefferies LLC and Cowen and Company, LLC, as representatives of the several underwriters named in Schedule I thereto (collectively, the “Underwriters”), relating to the public offering by the Company of 6,500,000 shares of its common stock, par value $0.01 per share (“Common Stock”), at a public offering price of $10.00 per share, less underwriting discounts and commissions

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NOVAVAX INC filing history →

Source: SEC EDGAR

accession 0001104659-22-128263

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