Novavax Prices Public Offering of Common Stock
11 Abril 2018 - 10:00PM
GAITHERSBURG, Md., April 11, 2018
(GLOBE NEWSWIRE) -- Novavax, Inc. (Nasdaq:NVAX), a clinical-stage
biotechnology company committed to delivering novel products to
prevent infectious diseases, today announced that it has priced an
underwritten public offering of 30,303,050 shares of common stock
at a price to the public of $1.65 per share for gross proceeds of
$50 million, before deducting the underwriting discounts and
offering expenses. In connection with this offering, Novavax has
granted the underwriters a 30-day option to purchase up to an
additional 4,545,457 shares of its common stock. If the
underwriters exercise this option in full, Novavax will have sold
34,848,507 shares of its common stock.
Novavax intends to use the net
proceeds from this offering for general corporate purposes,
including but not limited to working capital, capital expenditures,
research and development expenditures related to its clinical and
preclinical vaccine candidates, clinical trial expenditures, as
well as acquisitions and other strategic purposes. The offering is
expected to close on or about April 16, 2018, subject to the
satisfaction of customary closing conditions.
Citigroup and Piper Jaffray & Co. are acting
as joint book-running managers for the offering. Cantor Fitzgerald
& Co. is also acting as a book-running manager. Ladenburg
Thalmann and B. Riley FBR are acting as co-managers.
A preliminary prospectus
supplement and the prospectus relating to the proposed offering
have been filed with the Securities and Exchange Commission (SEC).
The offering may be offered only by means of a prospectus,
including a prospectus supplement, forming a part of the effective
registration statement. 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. When available,
copies of the final prospectus supplement and the prospectus
relating to the proposed offering can be obtained at the SEC's
website http://www.sec.gov or from Citigroup and Piper Jaffray
& Co., Attention: Citigroup, c/o Broadridge Financial
Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, 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 prospectus @pjc.com.
About
Novavax
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 the Novavax' efforts to
improve global health.
Forward-Looking Statements
Statements
contained in this press release, including those relating to the
expected closing of the offering, and those statements 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: our ability to successfully complete the offering on
terms and conditions satisfactory to us; the possible adverse
impact on the market price of our shares of common stock due to the
dilutive effect of the securities to be 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 in Part I, Item 1A "Risk Factors," of
the Novavax Annual Report on Form 10-K for the year ended December
31, 2017 as filed with the Securities and Exchange Commission (SEC)
and in other reports filed from time to time with the SEC,
including our Quarterly Reports on Form 10-Q and Current Reports on
Form 8-K, which are all available at www.sec.gov. We caution
investors not to place considerable reliance on the forward-looking
statements contained in this press release. 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.
Contact:
Investors:
Erika Trahan
Senior Manager, Investor & Public Relations
ir@novavax.com
240-268-2000
Westwicke Partners
John Woolford
John.woolford@westwicke.com
443-213-0506
Media:
Sam Brown
Mike Beyer
mikebeyer@sambrown.com
312-961-2502
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
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