Novavax issues $225M 4.625% convertible notes due 2031, exchanges $148.7M of 2027 notes

NOVAVAX INC

Issued $225M principal of 4.625% Convertible Senior Notes due 2031; initial conversion price ~$11.14 (27.5% premium).
Exchanged ~$175.3M of new notes for ~$148.7M of existing 5.00% 2027 notes; $49.7M for cash.
Notes mature Sept 1, 2031; interest payable semi-annually; redeemable by company after Sept 5, 2028 if stock >130% of conversion price.
Maximum dilution: 25,743,690 shares upon conversion at max conversion rate $8.74 per share.
Exchange portion unregistered under Section 3(a)(9); shares upon conversion also exempt.

item 1.01item 2.03item 3.02item 9.01

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.