Why Alnylam Pharmaceuticals Shares Are Falling

Alnylam Pharmaceuticals, Inc. ALNY shares are trading lower by 4.97% to $212.18 Monday morning after the company announced a proposed offering of $900 million convertible senior notes.

The notes will be senior, unsecured obligations of Alnylam, will accrue interest payable semi-annually in arrears and will mature on September 15, 2027, unless earlier converted, redeemed or repurchased.

Alnylam says noteholders will have the right to convert their notes in certain circumstances and during specified periods.

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According to data from Benzinga Pro, Alnylam Pharmaceuticals has a 52-week high of $236.80 and a 52-week low of $117.58.