Alnylam issues $661.25M zero-coupon convertible notes due 2028; repurchases $637.8M of existing notes

ALNYLAM PHARMACEUTICALS, INC.

Issued $661.25M aggregate principal of 0.00% Convertible Senior Notes due 2028; initial conversion price $670.11/share (~40% premium).
Capped call transactions entered to offset dilution; cost $35.3M, cap price $837.61/share (~75% premium).
Repurchased $637.8M of existing 1.00% convertible notes due 2027 for ~$1,105.8M total (including accrued interest).
Notes mature Sept 15, 2028, no regular interest; settlement in cash, shares, or combination at Alnylam's election.

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