Moderna to Offer Up to 6.3% Discount in $1.3 Billion Share Sale

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(Bloomberg) -- Moderna Inc. is selling its shares overnight at $75 to $77.50 each, according to people familiar with the matter.

The price range represents a 6.3% to 3.1% discount to Monday’s closing price. Shares jumped 20% on Monday after the company revealed positive early results from its experimental vaccine for Covid-19, capping off a 309% rally this year.

Proceeds from the stock offering will fund manufacturing of Moderna’s vaccine candidate against the novel coronavirus.

Morgan Stanley is underwriting the offering, according to a press release. Shares dropped 2.8% in post-market trading.

©2020 Bloomberg L.P.

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