Vaxcyte Announces $1 Billion Financing Through Equity and Convertible Notes
Vaxcyte (PCVX) has priced a concurrent public offering that includes $500 million in equity shares and $500 million in convertible senior notes, aiming to raise total gross proceeds of $1 billion. The company plans to use the funds for its clinical development programs and general corporate purposes. The equity portion consists of 7.41 million shares offered at a price per share that has yet to be disclosed fully. Additionally, Vaxcyte will issue convertible notes with an interest rate of 1.50%, maturing in 2032.
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