GeoVax Announces Closing of $10.3 Million Bought Deal Offering
February 11 2021 - 2:00PM
via NewMediaWire --
GeoVax Labs,
Inc. (NasdaqCM: GOVX) (“GeoVax” or the “Company”), a
biotechnology company developing human immunotherapies and vaccines
against infectious diseases and cancer, today announced the closing
of its bought deal offering of 1,644,000 shares of its common
stock, which included 204,000 shares sold pursuant to the full
exercise of the underwriter’s option to purchase additional shares,
at a price to the public of $6.25, less underwriting discounts and
commissions. The gross proceeds from the offering were
approximately $10.3 million, before deducting underwriting
discounts and commissions and estimated offering expenses.
Maxim Group LLC acted as the sole book-running
manager for the offering.
The offering was conducted pursuant to the
Company’s registration statement on Form S-3 (File No. 333-252437),
as amended, previously filed with and subsequently declared
effective by the Securities and Exchange Commission (“SEC”). A
final prospectus relating to the offering was filed on February 11,
2021 with the SEC and is available on the SEC’s website
at http://www.sec.gov. Electronic copies of the final
prospectus relating to this offering may be obtained from Maxim
Group LLC, 405 Lexington Avenue, 2nd Floor, New York, NY 10174, or
by telephone at (212) 895-3745.
This press release shall not constitute an offer
to sell or the solicitation of an offer to buy these securities,
nor shall 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.
About GeoVax
GeoVax Labs, Inc. is a clinical-stage
biotechnology company developing human vaccines against infectious
diseases and cancer using a novel patented Modified Vaccinia
Ankara-Virus Like Particle (MVA-VLP) based vaccine platform. On
this platform, MVA, a large virus capable of carrying several
vaccine antigens, expresses proteins that assemble into VLP
immunogens within (in vivo) the person receiving the vaccine. The
production of VLPs in the person being vaccinated can mimic virus
production in a natural infection, stimulating both the humoral and
cellular arms of the immune system to recognize, prevent, and
control the target infection. The MVA-VLP derived vaccines can
elicit durable immune responses in the host similar to a
live-attenuated virus, while providing the safety characteristics
of a replication-defective vector.
GeoVax’s current development programs are focused
on preventive vaccines against COVID-19, HIV, Zika Virus,
hemorrhagic fever viruses (Ebola, Sudan, Marburg, and Lassa), and
malaria, as well as therapeutic vaccines against multiple cancers.
The Company has designed a preventive HIV vaccine candidate to
fight against the subtype of HIV prevalent in the commercial
markets of the Americas, Western Europe, Japan, and Australia;
human clinical trials for this program are managed by the HIV
Vaccine Trials Network (HVTN) with the support of the National
Institutes of Health (NIH). GeoVax’s HIV vaccine is also part of
two separate collaborative efforts to apply its innovative gene
therapy approach toward a functional cure for HIV.
Cautionary Note Regarding Forward-Looking
Statements
This release contains forward-looking statements
regarding GeoVax’s business plans and financial result. This
release includes forward-looking statements regarding GeoVax’s
business plan. The words “believe,” “may,” “estimate,” “continue,”
“anticipate,” “intend,” “should,” “plan,” “could,” “target,”
“potential,” “is likely,” “will,” “expect” and similar expressions,
as they relate to us, are intended to identify forward-looking
statements. We have based these forward-looking statements largely
on our current expectations and projections about future events and
financial trends that we believe may affect our financial
condition, results of operations, business strategy and financial
needs. Actual results may differ materially from those included in
these statements due to a variety of factors, including whether:
GeoVax can develop and manufacture its vaccines with the desired
characteristics in a timely manner, GeoVax’s vaccines will be safe
for human use, GeoVax’s vaccines will effectively prevent targeted
infections in humans, GeoVax’s vaccines will receive regulatory
approvals necessary to be licensed and marketed, GeoVax raises
required capital to complete vaccine development, there is
development of competitive products that may be more effective or
easier to use than GeoVax’s products, GeoVax will be able to enter
into favorable manufacturing and distribution agreements, the
impact of the COVID-19 pandemic continues, and other factors, over
which GeoVax has no control.
Further information on our risk factors is
contained in our registration statement on Form S-3 that we have
filed with the SEC. Any forward-looking statement made by us herein
speaks only as of the date on which it is made. Factors or events
that could cause our actual results to differ may emerge from time
to time, and it is not possible for us to predict all of them. We
undertake no obligation to publicly update any forward-looking
statement, whether as a result of new information, future
developments or otherwise, except as may be required by
law.
Contact:
GeoVax Labs, Inc.
investor@geovax.com
678-384-7220
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