Vaxcyte (PCVX): Prices about $1B stock and convertible raise to fund VAX-31
Vaxcyte priced about $1B of funding: 7.4M shares at $64 plus pre-funded warrants, and $500M of 1.5% convertible notes due 2032. Proceeds back VAX-31 trials and launch prep. Fresh cash against dilution risk.
Why it matters The raise funds late-stage VAX-31 trials, manufacturing scale-up and possible US adult launch preparation, but new shares and convertible notes add dilution risk for existing holders.
What we verified The SEC pricing term sheet and Investing.com both show 7,412,500 shares at $64.00 plus 400,000 pre-funded warrants, and $500M of 1.50% convertible notes due 2032 with a conversion price near $89.60. Closing was scheduled for Oct 9; we did not find a separate closing announcement.
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