By Devika Patel
Knoxville, Tenn., July 1 - Novavax, Inc. plans to conduct a $3 million registered direct offering of common stock, according to a prospectus supplement filed Tuesday with the Securities and Exchange Commission.
The company will sell 1,094,891 shares at $2.74 apiece.
Proceeds will be used to pay back a portion of the company's $5 million in 4.75% senior convertible notes due July 15, 2009. The remainder will be used for other general corporate purposes.
Based in Rockville, Md., Novavax develops vaccines against infectious diseases.
| Issuer: | Novavax, Inc.
|
| Issue: | Common units
|
| Amount: | $3 million
|
| Units: | 1,094,891
|
| Price: | $2.74
|
| Warrants: | No
|
| Pricing date: | July 1
|
| Stock symbol: | Nasdaq: NVAX
|
| Stock price: | $3.28 at close June 30
|
| Market capitalization: | $268 million
|
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