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AI brief of an SEC Form 8-K · Alnylam Pharmaceuticals (ALNY)

Alnylam completes $661.25 million convertible notes offering due 2028

Neutral Impact 4 of 5 financing Written later

Alnylam completed a $661.25 million offering of 0.00% convertible senior notes due 2028, including an option exercise of $86.25 million, and used about $1,105.8 million to repurchase $637.8 million of its 1.00% convertible notes due 2027. The filing describes capped call transactions that are expected to reduce potential dilution from conversion, with a maximum of 1,381,483 shares issuable on conversion.

Key points

  • Total notes principal: $661.25 million, maturing September 15, 2028, with no regular interest
  • Initial conversion price about $670.11 per share, a 40.0% premium to the $478.6327 reference price on September 9, 2025
  • Capped call cost about $35.3 million; cap price about $837.61 per share
  • Concurrent repurchase of about $637.8 million of 2027 notes for a total cost of about $1,105.8 million including accrued interest

The filing

CompanyAlnylam Pharmaceuticals (ALNY)
Form8-K, current report
Filed with the SECSep 12, 2025, 5:17 PM ET
Accession number0001193125-25-202366

Items reported: 1.01 Material Definitive Agreement2.03 New Direct Financial Obligation3.02 Unregistered Equity Sale8.01 Other Events

Read the filing on SEC.gov ↗

Written by AI on Nov 8, 2026, 12:42 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on September 12, 2025.

Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.