Farmas USA

Hoy mismo han publicado un filing a la SEC , un form 8-K, que certifica el cash que tenian en el banco a final de año. para que hacen eso? No hay necesidad? ...... A quien se lo quieren hacer saber ? ....

NVAX

NVAX

Ufff, hago un año de experiencia bursátil el mes que viene y me están dando "fuerte y flojo". Que me gustaría tener un micro en ciertos despachos. Algo hay, eso lo tengo claro como el agua. Paciencia.

Después de ésto, me asaltan 2 dudas:
1) Serían suficientes esos 300 millones para que NVAX haga su propia guerra en Europa, sin un partner? No sé, igual las ofertas de partners que han recibido hasta ahora, no les han convencido y han decidido hacerlo en solitario.
2) Puede que NVAX con esos 300 millones quiera hacer una adquisición de otra empresa?
Creo que pronto sabremos para qué son esos 300 millones, espero...
NVAX

NVAX

The Notes will bear cash interest at a rate of 3.75%, payable on February 1 and August 1 of each year, beginning on August 1, 2016. The Notes will not be redeemable prior to maturity and will be convertible into shares of Novavax common stock. The initial conversion rate for the Notes is 146.8213 shares of Novavax’ common stock per $1,000 principal amount of the Notes, which is equivalent to an initial conversion price of approximately $6.81 per share of Novavax’ common stock, representing an approximately 22.5% conversion premium based on the last reported sale price of Novavax’ common stock of $5.56 per share on January 25, 2016

Novavax intends to use the net proceeds from the offering for the advancement of its clinical-stage vaccine candidates, including its recently initiated pivotal Phase 3 clinical trials of its RSV F Vaccine in older adults and pregnant women, as well as its other clinical and preclinical research programs, and general corporate purposes, which may include working capital, product development, manufacturing and process development expenditures, capital expenditures, acquisitions and other strategic purposes. Novavax also intends to use a portion of the net proceeds from the offering to pay the cost of certain capped call transactions

The capped call transactions are expected generally to reduce the potential dilution upon conversion of the Notes in the event that the market price per share of Novavax’ common stock, as measured under the terms of the capped call transactions, is greater than the strike price of the capped call transactions, which initially corresponds to the conversion price of the Notes, and is subject to anti-dilution adjustments generally similar to those applicable to the conversion rate of the Notes. The cap price of the capped call transactions will initially be $9.73 per share, which represents a premium of approximately 75% based on the last reported sale price of Novavax’ common stock of $5.56 per share on January 25, 2016, and is subject to certain adjustments under the terms of the capped call transactions. If, however, the market price per share of Novavax’ common stock, as measured under the terms of the capped call transactions, exceeds the cap price of the capped call transactions, there would nevertheless be dilution upon conversion of the Notes to the extent that such market price exceeds the cap price of the capped call transactions. If the initial purchasers of the Notes exercise their over-allotment option, Novavax expects to enter into additional capped call transactions with the option counterparties .

http://ir.novavax.com/phoenix.zhtml?c=71178&p=irol-newsArticle&ID=2132088.

Por lo menos es a 6.81$
NVAX

NVAX

Mis impresiones acerca del PR...

"The Notes will bear cash interest at a rate of 3.75%, payable on February 1 and August 1 of each year, beginning on August 1, 2016"

Me queda la duda si ese 3.75% es para cada pago de intereses (semestralmente) o es el interés anual... si el caso fuera este último, es un lujo endeudarse a este coste, más aún en este sector; si fuera por cada pago (anual del 7.50%), tampoco es una salvajada... en cualquier caso, entiendo que el "interés" de verdad para el tenedor del bono viene por la posibilidad de convertir los bonos en acciones a $6.81.

"The offering was upsized from the previously announced size of $200 million"

Un incremento así (de $200 a $300 millones) sólo lo haces si hay exceso de demanda, por lo que a mi me da que ya los tienen todos colocados... claro que si a mi me ofrecieran estos bonos convertibles, los compraba rápidamente.

Edito: borro un último párrafo que había escrito fruto de una lectura equivocada del PR.

NVAX

Ostia, son $6.81. Yo había leído $9.73, que son el precio para las "capped call transactions"... ya no pinta tan bien la cosa (el premium sobre el cierre de ayer se queda en el 22%).

A la primera opcion ya te digo que no NVAX