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Novavax Inc Prices Public Offering of Common Stock

Tuesday, 24 Sep 2013 08:02am EDT 

Novavax Inc (Novavax) announced that it has priced an underwritten public offering of 27,693,000 shares of common stock at a price of $3.14 per share, the closing price of the stock on the previous day, for gross proceeds of approximately $87.0 million. Novavax expects to receive net proceeds, after deducting the underwriting discount, of approximately $82.6 million from the offering. In connection with this offering, Novavax granted the underwriters a 30-day overallotment option to purchase up to an additional 4,153,950 shares of its common stock. Novavax intends to use the net proceeds of the offering for general corporate purposes, the advancement of its clinical-stage vaccine candidates and its pre-clinical research programs. The offering is expected to close on or about September 27, 2013, subject to the satisfaction of customary closing conditions. Lazard Capital Markets LLC is acting as the sole book-running manager for the offering. Piper Jaffray & Co. and Wedbush PacGrow Life Sciences are acting as co-lead managers and Burrill Securities LLC is acting as co-manager for the offering. 

Company Quote

-0.16 -1.72%
27 Feb 2015