DGAP-News: Novavax Prices Public Offering of Common Stock
(firmenpresse) - Novavax, Inc.
24.09.2013 14:02
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ROCKVILLE, Md., 2013-09-24 14:02 CEST (GLOBE NEWSWIRE) --
Novavax, Inc. (Nasdaq:NVAX) today announced that it has priced an underwritten
public offering of 27,693,000 shares of common stock at a price of $3.14 per
share, the closing price of the stock on the previous day, for gross proceeds
of approximately $87.0 million. Novavax expects to receive net proceeds, after
deducting the underwriting discount, of approximately $82.6 million from the
offering. In connection with this offering, Novavax granted the underwriters a
30-day overallotment option to purchase up to an additional 4,153,950 shares of
its common stock. Novavax intends to use the net proceeds of the offering for
general corporate purposes, the advancement of its clinical-stage vaccine
candidates and its pre-clinical research programs. The offering is expected to
close on or about September 27, 2013, subject to the satisfaction of customary
closing conditions.
Lazard Capital Markets LLC is acting as the sole book-running manager for the
offering. Piper Jaffray&Co. and Wedbush PacGrow Life Sciences are acting as
co-lead managers and Burrill Securities LLC is acting as co-manager for the
offering.
A preliminary prospectus supplement and the prospectus relating to the proposed
offering are being filed with the SEC. This offering may be offered only by
means of the prospectus, including the 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 Lazard Capital Markets LLC at 30 Rockefeller Plaza,
60th Floor, New York, NY 10020 or via telephone at 800-542-0970.
About Novavax
Novavax, Inc. (Nasdaq:NVAX) is a clinical-stage biopharmaceutical company
creating vaccines and vaccine adjuvants to address a broad range of infectious
diseases worldwide. Using innovative proprietary recombinant protein
nanoparticle technology, the company produces vaccine candidates to efficiently
and effectively respond to both known and newly emergent diseases.
Forward-Looking Statements
Statements contained in this 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; 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 withSecurities and Exchange Commission
(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. 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: Barclay A. Phillips
SVP, Chief Financial Officer and Treasurer
Novavax, Inc.
240-268-2000
News Source: NASDAQ OMX
24.09.2013 Dissemination of a Corporate News, transmitted by DGAP -
a company of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
DGAP's Distribution Services include Regulatory Announcements,
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Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English
Company: Novavax, Inc.
United States
Phone:
Fax:
E-mail:
Internet:
ISIN: US6700021040
WKN:
End of Announcement DGAP News-Service
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Datum: 24.09.2013 - 14:02 Uhr
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News-ID 299537
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