Shares of COVID-19 vaccine maker Novavax Inc. on Wednesday sank 11% after the company announced a proposed offering to sell millions of its debt and stock. The company said the proceeds could
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go toward the global launch of its Nuvaxovid COVID vaccine and the repayment or repurchase of some of the $325 million of its convertible debt due in February. Novavax announced a proposed sale of up to $125 million in stock, and said it expects to grant the underwriters a 30-day option to buy up to an additional $18.75 million of its stock. In conjunction with the share offering, Novavax on Wednesday also announced a proposed $125…
