Alnylam Navigates $500M Convertible Notes Offering as Trading Volume Ranks 279th at $0.42 Billion

On September 8, 2025, , ranking 279th in market activity. , targeting qualified institutional buyers under Rule 144A. , subject to market conditions. .

The notes will mature on September 15, 2028, with semiannual interest payments. Holders may convert the notes under specified conditions, with Alnylam retaining the option to settle conversions via cash, shares, or a combination. Redemption rights apply after September 20, 2027, contingent on the stock price exceeding 130% of the conversion price. , though the extent remains uncertain.

, though terms and outcomes depend on market conditions at the time. The offering remains unregistered under the Securities Act, with sales restricted to qualified buyers. Analysts highlighted the company’s moderate debt profile and recent positive data from its cardiovascular and cardiometabolic pipeline, , as factors supporting investor confidence.

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