Moderna Stock Falls 6% On Announcement Of $2.6 Bln Private Offering Of Convertible Senior Notes

India, Aug. 28 -- Shares of Moderna, Inc. (MRNA) are falling around 6 percent on Friday morning after the company announced pricing of a $2.6 billion private offering of Convertible Senior Notes due 2032.

Shares of the company slipped 5.09 percent to $135.73 on the Nasdaq, compared with the previous closing price of $142.77. The stock has traded in a 52-week range of $22.28 to $176.66.

The conversion rate will initially be 4.7487 shares of Moderna's common stock per $1,000 principal amount of notes. The company estimates to raise about $2,562.9 million, which will be used to pay the cost of the privately negotiated capped call transactions and other general corporate purposes.

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