Vical Incorporated Announces Pricing of $25 Million Underwritten Public Offering of Common Stock
November 08 2017 - 6:30AM
Vical Incorporated (Nasdaq:VICL) today announced the pricing of its
underwritten public offering of 14,285,714 shares of common stock
or common stock equivalents at a price to the public of $1.75
per share.
H.C. Wainwright & Co., LLC is acting as the
sole book-running manager for the offering.
The gross proceeds from this offering are
expected to be approximately $25.0 million, before deducting
underwriting discounts and commissions and estimated offering
expenses payable by Vical. The offering is expected to close on or
about November 10, 2017, subject to customary closing conditions.
Vical has granted the underwriter a 30-day option to purchase up to
an additional 2,142,857 shares of common stock in connection with
the public offering, at the public offering price less underwriting
discounts and commissions. All of the securities are being offered
by Vical.
Registration statements on Form S-1 relating to
the securities to be sold in the offering have become effective.
The offering is being made only by means of a prospectus. A copy of
the prospectus forming a part of the registration statement, as
well as the final prospectus relating to the offering when
available, may be accessed on the SEC's website located at
www.sec.gov and may also be obtained by contacting H.C. Wainwright
& Co., LLC, 430 Park Avenue, 4th Floor, New York, New York
10022, by calling (646) 975-6996 or emailing
placements@hcwco.com.
This press release shall not constitute an offer
to sell or the solicitation of an offer to buy any of Vical’s
securities. No offer, solicitation or sale will be made in any
jurisdiction in which such offer, solicitation or sale is
unlawful.
About VicalVical develops
biopharmaceutical products for the prevention and treatment of
chronic or life-threatening infectious diseases, based on its
patented DNA delivery technologies and other therapeutic
approaches.
Forward-Looking
StatementsStatements in this press release regarding
matters that are not historical facts, including expectations
regarding the completion and timing of Vical’s proposed public
offering, are forward-looking statements. These forward-looking
statements are based on management's expectations and assumptions
as of the date of this press release and are subject to numerous
risks and uncertainties, which could cause actual results to differ
materially from those expressed or implied by such statements.
These risks and uncertainties include, without limitation, risks
and uncertainties associated with market conditions and the
satisfaction of customary closing conditions related to the
proposed offering, as well as other risks and uncertainties
described in Vical’s filings with the Securities and Exchange
Commission (SEC), including under the heading “Risk Factors” in
Vical's Annual Report on Form 10-K for the year ended December 31,
2016 and subsequent filings with the SEC. You are encouraged to
read Vical’s filings with the SEC, available at www.sec.gov, 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 press release, and Vical undertakes no obligation
to update or revise any of the statements.
Contact:
Andrew Hopkins(858) 646-1127Website:
www.vical.com
Vical (NASDAQ:VICL)
Historical Stock Chart
From Aug 2024 to Sep 2024
Vical (NASDAQ:VICL)
Historical Stock Chart
From Sep 2023 to Sep 2024