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Non-dilutive financing from premier lender bolsters strong balance sheet and provides increased flexibility
Company reiterates 2025 financial guidance provided on 3Q25 earnings call and targets cash breakeven by 2028
CAMBRIDGE, MA / ACCESS Newswire / November 20, 2025 / Moderna, Inc. (NASDAQ:MRNA) today announced it has closed a five-year term loan facility for up to $1.5 billion of capital from Ares Management Credit Funds (Ares), a leading global alternative investment manager, to increase flexibility.
The non-dilutive debt financing consists of three tranches over five years, including:
A $600 million initial term loan funded at closing
A $400 million delayed draw term loan facility (DDTL), available in multiple draws at Moderna's discretion through November 2027
An additional $500 million DDTL, available in multiple draws at Moderna's discretion through November 2028. This tranche is contingent on the achievement of key regulatory milestones aligned with Moderna's late-stage clinical pipeline
Posted In: MRNA
