On August 27, Moderna announced its plan to privately issue $2 billion in aggregate principal amount of senior convertible notes, which will mature in 2032. The company also granted the initial purchasers an option to purchase up to an additional $300 million in notes within 13 days from the date of the initial issuance. These notes will not pay regular interest, nor will the principal amount accrue. The proceeds will be primarily used to cover the transaction costs of the capped call option and for general corporate purposes, including investments in the oncology business and debt repayment.