Novavax Announces Closing of Public Offering
March 31 2015 - 4:02PM
GAITHERSBURG, Md., March 31, 2015 (GLOBE NEWSWIRE)
-- 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(TM) 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
This
announcement is distributed by NASDAQ OMX Corporate Solutions on
behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: Novavax, Inc. via Globenewswire
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