By Josh Beckerman

Novavax Inc. shares fell 26% to $12.77 Thursday after the company said Wednesday it plans to sell up to $125 milion of stock and up to $125 million of convertible senior notes due 2027.

The vaccine company may use proceeds for purposes including the launch of Nuvaxovid, repayment or repurchase of convertible senior unsecured notes, working capital, and research and development.

Write to Josh Beckerman at josh.beckerman@wsj.com

(END) Dow Jones Newswires

December 15, 2022 13:05 ET (18:05 GMT)

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