SOUTH SAN FRANCISCO, Calif.--(BUSINESS WIRE)--Apr. 9, 2019--
Vaxart, Inc. (Nasdaq: VXRT), a clinical-stage biopharmaceutical company
focused on the development of oral recombinant vaccines based on its
proprietary oral vaccine platform, today announced the pricing of an
underwritten public offering of 9,090,010 shares of common stock (which
includes pre-funded warrants to purchase up to an aggregate of 8,165,455
shares of common stock in lieu thereof), and common warrants to purchase
up to an aggregate of 9,090,010 shares of common stock. Each share of
common stock and, as applicable, pre-funded warrant is being sold
together with a common warrant to purchase one share of common stock at
an effective price to the public of $1.10 per share and accompanying
common warrant.
Each common warrant will have an exercise price of $1.10 per share, be
exercisable immediately and will expire five years from the date of
issuance. The gross proceeds of the offering are expected to be
approximately $10.0 million assuming full exercise of the pre-funded
warrants (or $9.2 million assuming no exercise of the pre-funded
warrants, which have an exercise price of $0.10 per share), and prior to
deducting underwriting discounts and commissions and other estimated
offering expenses. In addition, Vaxart has granted the underwriters a
30-day option to purchase up to an additional 1,363,636 shares of common
stock and/or common warrants to purchase up to 1,363,636 shares of
common stock, at the public offering price, less discounts and
commissions. All of the securities to be sold in the offering are being
offered by Vaxart. The offering is expected to close on or about April
11, 2019, subject to customary closing conditions.
H.C. Wainwright & Co. is acting as the sole book-running manager for the
offering. Brookline Capital Markets, a division of CIM Securities, LLC,
is acting as manager for the offering.
A registration statement on Form S-1 relating to these securities was
declared effective by the Securities and Exchange Commission (“SEC”) on
April 8, 2019. The offering was made only by means of a prospectus
forming part of the effective registration statement. A final prospectus
will be filed with the SEC. Electronic copies of the final prospectus
relating to the offering, when available, may be obtained by contacting
H.C. Wainwright & Co., LLC, 430 Park Avenue, 3rd Floor, New York, NY
10022, by calling (646) 975-6996 or by emailing placements@hcwco.com
or at the SEC’s website at http://www.sec.gov.
This press release shall not constitute an offer to sell or a
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.
View source version on businesswire.com: https://www.businesswire.com/news/home/20190409005525/en/
Source: Vaxart, Inc.
Carl Mauch
Stern Investor Relations
212-362-1200
vaxart@sternir.com