Proceeds to fund general corporate purposes, including working capital
By Devika Patel
Knoxville, Tenn., Oct. 23 - Novavax, Inc. said it raised a $26.78 million through a sale of its common stock. RA Capital Management, Camber Capital Management and Ayer Capital Management were the investors.
The company sold 12,285,321 common shares at $2.18 apiece. The price per share is identical to the Oct. 22 closing share price.
Proceeds will be used for general corporate purposes, including working capital, product development and capital expenditures.
Based in Rockville, Md., Novavax develops vaccines against infectious diseases.
| Issuer: | Novavax, Inc.
|
| Issue: | Common shares
|
| Amount: | $26,782,000
|
| Shares: | 12,285,321
|
| Price: | $2.18
|
| Warrants: | No
|
| Investors: | RA Capital Management, Camber Capital Management and Ayer Capital Management
|
| Settlement date: | Oct. 23
|
| Stock symbol: | Nasdaq: NVAX
|
| Stock price: | $2.18 at close Oct. 22
|
| Market capitalization: | $285.33 million
|
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