Alnylam Pharmaceuticals Announces $575 Million Upsized Convertible Senior Notes Offering

Alnylam Pharmaceuticals has priced an upsized offering of $575 million convertible senior notes due 2028. The biopharmaceutical company develops therapeutics based on RNA interference and has marketed products such as AMVUTTRA, ONPATTRO, GIVLAARI, OXLUMO, and Leqvio. It is also developing Cemdisiran, Belcesiran, Elebsiran, Zilebesiran, and others.

Alnylam Pharmaceuticals, Inc. (Nasdaq: ALNY) has priced an upsized offering of $575 million convertible senior notes due 2028. The biopharmaceutical company, known for its RNA interference (RNAi) therapeutics, announced the offering on September 8, 2025, targeting qualified institutional buyers under Rule 144A of the Securities Act of 1933 Alnylam Announces Proposed Offering of $500 Million ...^[1].

The notes, which will accrue interest semi-annually in arrears and mature on September 15, 2028, unless earlier converted, redeemed, or repurchased, offer initial purchasers an option to buy an additional $75 million aggregate principal amount within a 13-day period. The terms, including the interest rate and initial conversion rate, will be determined at the pricing of the offering. Alnylam expects to use the proceeds for various purposes, including the cost of capped call transactions, repurchasing existing notes, and general corporate purposes Alnylam Announces Proposed Offering of $500 Million ...^[1].

Alnylam's commercial RNAi therapeutic products include AMVUTTRA®, ONPATTRO®, GIVLAARI®, OXLUMO®, and Leqvio®. The company also has a robust pipeline of investigational medicines, including Cemdisiran, Belcesiran, Elebsiran, and Zilebesiran. Alnylam's strategy, "Alnylam P5x25," aims to deliver transformative medicines for both rare and common diseases Alnylam Announces Proposed Offering of $500 Million ...^[1].

The offering is subject to market and other conditions, and there can be no assurance as to whether or when it may be completed, or as to the actual size or terms of the offering. The notes will be offered only to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act. The offer and sale of the notes and any shares of common stock issuable upon conversion of the notes have not been, and will not be, registered under the Securities Act or any other securities laws Alnylam Announces Proposed Offering of $500 Million ...^[1].

References
Alnylam Announces Proposed Offering of $500 Million ...^[1] https://investors.alnylam.com/press-release?id=29276