Deals
Moderna Prices Its $1.3 Billion Share Sale to Fund Virus Vaccine
- Biotech firm to sell 17.6 million shares at $76 a piece
- Its experimental vaccine has shown positive early results
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Moderna Inc. plans to raise as much as $1.3 billion through a sale of shares to fund manufacturing of a coronavirus vaccine seen as one of the frontrunners in the race for immunization against the widening pandemic.
The U.S. biotechnology firm will sell 17.6 million shares priced at $76 a piece, according to a statement Tuesday. The price represents a 5% discount to Monday’s closing price.