Novavax Inc. (NVAX) announced that it has priced an underwritten public offering of 6.80 million shares of its common stock at a price to the public of $3.30 per share.
The approximately $21 million of net proceeds, after deducting the underwriting discounts and commissions, will be used for preclinical studies and clinical trials of our VLP-based vaccines, internal research and development programs, working capital, capital expenditures and other general corporate purposes. The offering is expected to close on or about November 25, 2009, subject to the satisfaction of customary closing conditions.
The underwriters have been granted an option to purchase up to an additional 1,020,000 shares at any time on or prior to December 8, 2009 to cover over-allotments, if any.
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