Vaxcyte, Inc. (PCVX) announced the closing of its concurrent public offerings of common stock, pre-funded warrants, and convertible senior notes, raising combined net proceeds of approximately $1.103 billion after underwriting discounts and expenses.
Key Details
- Equity Offering: Raised approximately $544.3 million in net proceeds from the sale of 8,584,375 shares of common stock (including the full exercise of the underwriter's option) at $64.00 per share and 400,000 pre-funded warrants.
- Convertible Note Offering: Raised approximately $558.7 million in net proceeds from the sale of $575 million aggregate principal amount of 1.50% Convertible Senior Notes due 2032, which includes the full exercise of the underwriters' $75 million over-allotment option.
- Offering Terms & Closing: The notes mature on October 15, 2032, and have an initial conversion price of approximately $89.60 per share. Both offerings closed on October 9, 2026.