Novavax, Inc.: Novavax Announces Closing of Public Offering
GAITHERSBURG, Md., April 16, 2018 (GLOBE NEWSWIRE) -- Novavax, Inc.
(Nasdaq:NVAX), a clinical-stage biotechnology company committed to delivering
novel products to prevent infectious diseases, today announced the closing of
the underwritten public offering priced on Wednesday, April 11, 2018.
The company issued 34,848,507 shares of its common stock, including 4,545,457
shares pursuant to the underwriters option to purchase additional shares.
The shares were issued at $1.65 per share resulting in total gross proceeds
from this offering of $57.5 million before deducting the underwriters
discount and offering expenses.
Net proceeds from the offering are to be used for general corporate purposes,
including but not limited to working capital, capital expenditures, research
and development expenditures related to clinical and preclinical vaccine
candidates, clinical trial expenditures, as well as acquisitions and other
Citigroup and Piper Jaffray&Co. acted as joint book-running managers of the
offering. Cantor Fitzgerald&Co. also acted as a book-running manager.
Ladenburg Thalmann and B. Riley FBR acted as co-managers.
The shares described above were issued pursuant to a final prospectus
supplement and accompanying prospectus. The company filed the final
prospectus supplement relating to the offering with the Securities and
Exchange Commission (SEC) on April 13, 2018, which is available along with
the accompanying prospectus filed with the SEC in connection with the
companys shelf registration statement on Form S-3, previously declared
effective by the SEC, on the SECs website at www.sec.gov. This press release
does not and shall not constitute an offer to sell or the solicitation of an
offer to buy, nor will there be any sale of these securities in any state or
jurisdiction in which such offer, solicitation or sale would be unlawful
prior to registration or qualification under the securities laws of any such
state or jurisdiction. Copies of the final prospectus supplement and the
accompanying prospectus may be obtained from Citigroup and Piper Jaffray&Co.,
Attention: Citigroup, c/o Broadridge Financial Solutions, 1155 Long Island
Avenue, Edgewood, NY 11717, or by telephone at (800) 831-9146; or Piper
Jaffray&Co., Attention: Prospectus Department, 800 Nicollet Mall, J12S03,
Minneapolis, MN 55402, by telephone at (800) 747-3924 or by email at
Novavax, Inc. (Nasdaq:NVAX) is a clinical-stage biotechnology company
committed to delivering novel products to prevent infectious diseases. Its
RSV and influenza nanoparticle vaccine candidates are Novavax most advanced
clinical programs and are at the forefront of Novavax efforts to improve
Statements contained in this release using words such as expects and
intends are forward-looking statements that involve a number of risks and
uncertainties that could cause actual results to differ materially from those
in the forward-looking statements. These risks and uncertainties include, but
are not limited to: the possible adverse impact on the market price of our
shares of common stock due to the dilutive effect of the securities sold in
the offering; our planned use of the proceeds from this offering; capital
market risks; our ability to raise additional capital when needed; and other
risk factors identified from time to time in the reports we file with the
SEC, including our Annual Report on Form 10-K, Quarterly Reports on Form
10-Q, and Current Reports on Form 8-K, which are available at www.sec.gov . We
caution investors not to place considerable reliance on the
forward-looking statements contained in this press release. You are
encouraged to read our filings with the SEC, available at sec.gov, for a
discussion of these and other risks and uncertainties. The forward-looking
statements in this press release speak only as of the date of this document,
and we undertake no obligation to update or revise any of the statements. Our
business is subject to substantial risks and uncertainties, including those
referenced above. Investors, potential investors and others should give
careful consideration to these risks and uncertainties.
Senior Manager, Investor&Public Relations
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Novavax, Inc. via Globenewswire