LONDON, Aug. 23,
2024 /PRNewswire/ -- Virax Biolabs Group Limited
("Virax" or the "Company") (Nasdaq: VRAX), an innovative
biotechnology company focused on the detection of immune responses
and diagnosis of viral diseases, today announced the closing of its
previously announced registered direct offering for the purchase
and sale of an aggregate of 1,108,892 of its ordinary shares at a
purchase price of $4.50 per
share.
H.C. Wainwright & Co. acted as the exclusive placement agent
for the offering.
The gross proceeds to the Company from the offering were
approximately $5 million, before
deducting the placement agent's fees and other offering expenses
payable by the Company. The Company currently intends to use the
net proceeds from the offering for working capital and general
corporate purposes.
The ordinary shares described above were offered and sold by the
Company pursuant to a "shelf" registration statement on Form F-3
(Registration No. 333-275893), including a base prospectus,
previously filed with the Securities and Exchange Commission
("SEC") on December 5, 2023, and
declared effective by the SEC on December
15, 2023. The ordinary shares issued in the registered
direct offering were offered only by means of a prospectus,
including a prospectus supplement, forming a part of the effective
registration statement. A final prospectus supplement and the
accompanying base prospectus relating to, and describing the terms
of, the registered direct offering were filed with the SEC and are
available on the SEC's website located at http://www.sec.gov.
Electronic copies of the final prospectus supplement and the
accompanying base prospectus relating to the registered direct
offering may also be obtained by contacting H.C. Wainwright &
Co., LLC at 430 Park Avenue, 3rd Floor, New York, NY 10022, by phone at (212) 856-5711
or e-mail at placements@hcwco.com.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy these securities, nor shall there
be any sale of these securities in any state or other jurisdiction
in which such offer, solicitation or sale would be unlawful prior
to the registration or qualification under the securities laws of
any such state or other jurisdiction.
About Virax Biolabs Group Limited
Virax Biolabs Group Limited is an innovative biotechnology
company focused on the detection of immune responses to and
diagnosis of viral diseases. Virax Biolabs Group Limited is
currently developing T-Cell-based test technologies with the
intention of providing an immunology profiling platform. T-Cell
testing can be particularly effective in the diagnosis and
therapeutics of post-viral syndromes such as Long COVID and other
chronic conditions linked to immune dysregulation.
For more information, please visit www.viraxbiolabs.com.
Safe Harbor Statement
This press release contains forward-looking statements. In
addition, from time to time, we or our representatives may make
forward-looking statements orally or in writing. We base these
forward-looking statements on our expectations and projections
about future events, which we derive from the information currently
available to us. Such forward-looking statements relate to future
events or our future performance, including: the intended use of
proceeds from the registered direct offering, our financial
performance and projections, our growth in revenue and earnings,
and our business prospects and opportunities. You can identify
forward-looking statements by those that are not historical in
nature, particularly those that use terminology such as "may,"
"should," "expects," "anticipates," "contemplates," "estimates,"
"believes," "plans," "projected," "predicts," "potential," or
"hopes" or the negative of these or similar terms. In evaluating
these forward-looking statements, you should consider various
factors, including: market and other conditions; our ability to
change the direction of the Company; our ability to keep pace with
new technology and changing market needs; and the competitive
environment of our business. These and other factors may cause our
actual results to differ materially from any forward-looking
statement. Forward-looking statements are only predictions. The
forward-looking events discussed in this press release and other
statements made from time to time by us or our representatives, may
not occur, and actual events and results may differ materially and
are subject to risks, uncertainties, and assumptions about us.
These forward-looking statements are based on information currently
available to Virax and its current plans or expectations and are
subject to a number of known and unknown uncertainties, risks and
other important factors that may cause our actual results,
performance or achievements to be materially different from any
future results, performance or achievements expressed or implied by
the forward-looking statements. These and other important factors
are described in detail in the "Risk Factors" section of Virax's
Annual Report on Form 20-F for the year ended March 31, 2024. Although we believe the
expectations reflected in such forward-looking statements are
reasonable, we can give no assurance that such expectations will
prove to be correct. We are not obligated to publicly update or
revise any forward-looking statement, whether as a result of
uncertainties and assumptions, the forward-looking events discussed
in this press release and other statements made from time to time
by us or our representatives might not occur.
Investor Relations Contact:
Russo Partners, LLC
Nic Johnson and Adanna Alexander
12 West 27th Street
4th Floor
New York, NY 10001
M: 303-482-6405
nic.johnson@russopartnersllc.com
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SOURCE Virax Biolabs