Novavax Announces Closing of Public Offering
March 31 2015 - 4:01PM
Novavax, Inc. (Nasdaq:NVAX), a clinical-stage vaccine company
focused on the discovery, development and commercialization of
recombinant nanoparticle vaccines and adjuvants, today announced
the closing of the underwritten public offering priced on
Wednesday, March 25, 2015.
The company issued 27,758,620 shares of its common stock,
including 3,620,689 shares pursuant to the underwriters' option to
purchase additional shares. The shares were issued at $7.25 per
share resulting in total gross proceeds from this offering of
approximately $201,250,000 before deducting the underwriters
discount and offering expenses.
Novavax intends to use a portion of the net proceeds from this
offering for the advancement of its lead vaccine candidates,
including the preparation and potential initiation of Phase 3
clinical trials of its elderly RSV and maternal RSV programs, as
well as its other clinical and preclinical research programs and
general corporate purposes, including working capital, product
development, manufacturing and process development expenditures and
capital expenditures, as well as acquisitions and other strategic
purposes.
J.P. Morgan and Citigroup acted as joint book-running managers
of the offering. Piper Jaffray & Co. and Wedbush PacGrow acted
as Co-Lead Managers, Janney Montgomery Scott and Ladenburg Thalmann
acted as Co-Managers.
The shares described above were issued pursuant to a final
prospectus supplement and accompanying prospectus. The company
filed the final prospectus supplement relating to the offering with
the Securities and Exchange Commission ("SEC") on March 26, 2015,
which is available along with the accompanying prospectus filed
with the SEC in connection with the company's shelf registration
statement on Form S-3, previously declared effective by the SEC, on
the SEC's website at www.sec.gov. 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. Copies of the
final prospectus supplement and the accompanying prospectus may be
obtained from J.P. Morgan and Citigroup, Attention: J.P. Morgan
Securities LLC, c/o Broadridge Financial Solutions, 1155 Long
Island Avenue, Edgewood, NY 11717, or by telephone at (866)
803-9204; or Citigroup, c/o Broadridge Financial Solutions, 1155
Long Island Avenue, Edgewood, NY 11717, by telephone at (800)
831-9146.
About Novavax
Novavax, Inc. (Nasdaq:NVAX) is a clinical-stage vaccine company
committed to delivering novel products to prevent a broad range of
infectious diseases. Its recombinant nanoparticles and Matrix-M™
adjuvant technology are the foundation for ground-breaking
innovation that improves global health through safe and effective
vaccines.
Forward-Looking Statements
Statements contained in this release 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: the
possible adverse impact on the market price of our shares of common
stock due to the dilutive effect of the securities 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 from time to time in the
reports we file with Securities 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. You are encouraged to read our filings with the SEC for a
discussion of these and other risks and uncertainties. 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: Novavax, Inc.
Barclay A. Phillips
SVP, Chief Financial Officer and Treasurer
Andrea N. Flynn
Senior Manager, Investor Relations
ir@novavax.com
240-268-2000
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