Vaxcyte Prices $1.15B Concurrent Offerings: $64/Share Common Stock and 1.50% Convertible Notes
PCVX sits 67% above its 52-week low of $39.87 on elevated volume (6.8× avg).
Summary
Vaxcyte priced its concurrent equity and convertible note offerings, raising approximately $959 million in net proceeds to fund VAX-31 development and commercial launch. The offerings closed on October 9, 2026, with the over-allotment options fully exercised, bringing total net proceeds to approximately $1.103 billion.
Updated with an SEC 8-K filing · What changed
Updates
· SEC 8-K — The offerings closed on October 9, 2026, with the over-allotment options fully exercised, bringing total net proceeds to approximately $1.103 billion.
· SEC 424B5 — The final prospectus confirms 7,412,500 shares and 400,000 pre-funded warrants at $64.00 per share, with underwriters' option for 1,171,875 additional shares.
Key Events · Financing and Capital Events · PCVX
-
Updated · · SEC 8-K
Net Proceeds of ~$959 Million, Later ~$1.103 Billion
Estimated net proceeds: $473.3 million from common stock offering and $485.8 million from convertible notes, before underwriters' over-allotment options. The offerings closed on October 9, 2026, with the over-allotment options fully exercised, bringing total net proceeds to approximately $1.103 billion.
-
Updated · · SEC 8-K
Timeline: Trade Date October 7, 2026; Settlement October 9, 2026
Trade date October 7, 2026; settlement date October 9, 2026 (T+2). The offerings closed on October 9, 2026.
-
Common Stock Priced at $64.00
7,412,500 shares (plus 400,000 pre-funded warrants at $63.999) priced at $64.00 per share, a 4% discount to the $66.70 last reported sale price on October 6, 2026.
-
Convertible Notes Priced at 1.50%
$500 million aggregate principal of 1.50% convertible senior notes due 2032, with initial conversion price of approximately $89.60 per share — a 40% premium to the common stock offering price.
Analysis · PCVX · Life Sciences
Vaxcyte finalized terms for its $1.15 billion capital raise, pricing 7.4 million common shares at $64.00 — a 4% discount to the last reported sale price of $66.70 — alongside $500 million in 1.50% convertible senior notes due 2032 with a 40% conversion premium at approximately $89.60 per share. The combined net proceeds of roughly $959 million fund the VAX-31 adult and pediatric clinical programs, manufacturing scale-up, and commercial launch preparation following the positive OPUS-1 Phase 3 data announced two days ago. The pricing is slightly dilutive to existing holders but reflects strong institutional demand given the stock's recent run-up on pivotal trial success. The offerings closed on October 9, 2026, with the over-allotment options fully exercised, bringing total net proceeds to approximately $1.103 billion.
How filings like this one have moved
In the 30 days to Oct 10, 2026, 35.9% of the 1032 measured filings Wiseek scored 8 moved their stock by 5% or more by the next session's close. The median move was -0.55%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, PCVX was trading at $66.40 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $9.9B. The 52-week trading range was $39.87 to $90.75. This filing was assessed with neutral market sentiment and an importance score of 8 out of 10.