By Sheri Kasprzak
New York, Oct. 19 - Vical Inc. is set to wrap a $25.1 million direct placement of stock that comes on the heels of another registered direct offering that closed earlier this week for $12.55 million.
In the latest deal, Temasek Holdings (Private) Ltd. agreed to buy 5 million shares at $5.02 each.
The shares will be sold under the company's shelf registration, and the deal was scheduled to close Thursday afternoon.
Proceeds will be used for development of the company's pandemic influenza DNA vaccine candidate, including phase 1 human clinical testing. The remainder will be used for general corporate purposes.
This direct deal comes just days after Vical wrapped up a $12.55 million direct offering of 2.5 million shares at the same price.
Vical, based in San Diego, develops DNA-based vaccines for infectious diseases and cancer.
| Issuer: | Vical Inc.
|
| Issue: | Stock
|
| Amount: | $25.1 million
|
| Shares: | 5 million
|
| Price: | $5.02
|
| Warrants: | No
|
| Investor: | Temasek Holdings (Private) Ltd.
|
| Settlement date: | Oct. 19
|
| Stock symbol: | Nasdaq: VICL
|
| Stock price: | $5.52 at close Oct. 18
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
