We advised the initial purchasers on the offering

Davis Polk advised the representatives of the several initial purchasers, in connection with a Rule 144A offering by Moderna, Inc. of $3 billion aggregate principal amount of its 0.00% convertible senior notes due 2032, which included $400 million aggregate principal amount of notes pursuant to the exercise in full of the initial purchasers’ option to purchase additional notes. In addition, Davis Polk advised the counterparties to the capped call transactions entered into in connection with the offering.

Moderna is a biotechnology company pioneering messenger RNA (mRNA) therapeutics and vaccines. The company is headquartered in Cambridge, Massachusetts.

The Davis Polk capital markets team included partner Deanna L. Kirkpatrick, counsel Maxim Van de moortel and associates Cheridan Christnacht and Amanda Kim. The equity derivatives team included partner Mark J. DiFiore, counsel Gregory E. Marchesini and associates Danielle Forni, Chanique C. Vassell and Zifeng Zeng. Partner Lucy W. Farr provided tax advice. Members of the Davis Polk team are based in the New York and London offices.

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