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Novavax Announces Proposed Public Offering of Common Stock
Apr. 12, 2018 08:40AM PST
Biotech InvestingNovavax (Nasdaq:NVAX), a clinical-stage biotechnology company committed to delivering novel products to prevent infectious diseases, today announced that it intends to offer to sell, subject to market and other conditions, shares of its common stock in an underwritten public offering. As part of this offering Novavax intends to grant the underwriters a 30-day option to …
Novavax (Nasdaq:NVAX), a clinical-stage biotechnology company committed to delivering novel products to prevent infectious diseases, today announced that it intends to offer to sell, subject to market and other conditions, shares of its common stock in an underwritten public offering. As part of this offering Novavax intends to grant the underwriters a 30-day option to purchase additional shares of its common stock equal to up to 15% of the number of shares of common stock offered pursuant to the underwritten public offering.
As quoted in the press release:
All shares being offered are to be sold by Novavax. 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, as well as acquisitions and other strategic purposes.