Novavax stock sinks after proposed $125 million share sale, convertible debt offering

Shares of COVID-19 vaccine maker Novavax Inc. on Wednesday sank 11% after the corporate introduced a proposed providing to promote thousands and thousands of its debt and inventory. The corporate mentioned the proceeds may go towards the worldwide launch of its Nuvaxovid COVID vaccine and the compensation or repurchase of among the $325 million of its convertible debt due in February. Novavax introduced a proposed sale of as much as $125 million in inventory, and mentioned it expects to grant the underwriters a 30-day choice to purchase as much as a further $18.75 million of its inventory. Along side the share providing, Novavax on Wednesday additionally introduced a proposed $125…