Alnylam prices $900M convertible senior notes at 1.00% due 2027; conversion premium 35%

ALNYLAM PHARMACEUTICALS, INC.

Principal $900M (greenshoe up to $135M); interest 1.00% semi-annual; maturity Sept 15, 2027.
Initial conversion price ~$286.20/share, 35% premium over $212.00 close on Sept 12, 2022.
Net proceeds est. $883.2M (or $1,015.8M with greenshoe); $762M to repay credit facility, $103.1M for capped call.
Capped call cap price $424.00/share, reducing dilution upon conversion; counterparties may hedge in open market.
Offering expected to close Sept 15, 2022, subject to customary conditions.

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