Convertibles Calendar: Novavax on tap

Dec. 15

NOVAVAX INC.:

• $125 million five-year convertible notes

• $18.75 million greenshoe

• Coupon of 4.75% to 5.25% and an initial conversion premium of 22.5% to 27.5%

• Non-callable until Dec. 22, 2025, then subject to a 130% hurdle

• Rule 144A

• J.P. Morgan Securities LLC (lead left), Jefferies LLC and Cowen Inc.

• Support the commercial launch of Nuvaxovid, to repay or repurchase a portion of the $325 million outstanding 3.75% convertible notes due Feb. 1, 2023 and for general corporate purposes

• Gaithersburg, Md.-based biotechnology company

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