Proceeds to fund general corporate purposes, including working capital
By Devika Patel
Knoxville, Tenn., May 21 - Novavax, Inc. said it settled a $12.2 million registered direct offering of stock with RA Capital Healthcare Fund, LP.
The company sold 10 million common shares at $1.22 apiece. The price per share represents a 5.17% premium to the May 18 closing share price of $1.16.
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: | $12.2 million
|
| Shares: | 10 million
|
| Price: | $1.22
|
| Warrants: | No
|
| Investor: | RA Capital Healthcare Fund, LP
|
| Settlement date: | May 21
|
| Stock symbol: | Nasdaq: NVAX
|
| Stock price: | $1.16 at close May 18
|
| Market capitalization: | $142.81 million
|
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