DGAP-News
Novavax Prices Public Offering of Common Stock
DGAP-News: Novavax, Inc. /
Novavax Prices Public Offering of Common Stock
06.06.2014 / 03:06
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GAITHERSBURG, Md., 2014-06-06 03:06 CEST (GLOBE NEWSWIRE) --
Novavax, Inc. (Nasdaq:NVAX), a clinical-stage biopharmaceutical company focused
on the discovery, development and commercialization of recombinant nanoparticle
vaccines and adjuvants, today announced that it has priced an underwritten
public offering of 25 million shares of common stock at a price to the public
of $4.00 per share for gross proceeds of approximately $100 million. Novavax
expects to receive net proceeds, after deducting the underwriting discount, of
approximately $94 million from the offering. In connection with this offering,
Novavax expects to grant to the underwriters a 30-day option to purchase up to
an additional 3.75 million shares of its common stock. If the underwriters
exercise this option in full, Novavax will have offered 28.75 million shares of
its common stock.
Novavax intends to use the net proceeds from the offering for general corporate
purposes, the advancement of its clinical-stage vaccine candidates and its
pre-clinical research programs, manufacturing and process development
activities, capital expenditures and other strategic purposes. The offering is
expected to close on or about June 11, 2014, subject to the satisfaction of
customary closing conditions.
Citigroup and JP Morgan are acting as joint book-running managers of the
offering. Piper Jaffray & Co. will act as Lead Manager and FBR and Ladenburg
Thalmann & Co. Inc. as Co-Managers.
A preliminary prospectus supplement and the prospectus relating to the proposed
offering has been filed with the SEC. The offering may be offered only by means
of a prospectus, including a prospectus supplement, forming a part of the
effective registration statement. 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. When
available, copies of the final prospectus supplement and the prospectus
relating to the proposed offering can be obtained at the SEC's website
http://www.sec.gov or from Citigroup and JP Morgan, Attention: Citigroup, c/o
Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, by
telephone at (800) 831-9146; or J.P. Morgan Securities LLC, c/o Broadridge
purposes, the advancement of its clinical-stage vaccine candidates and its
pre-clinical research programs, manufacturing and process development
activities, capital expenditures and other strategic purposes. The offering is
expected to close on or about June 11, 2014, subject to the satisfaction of
customary closing conditions.
Citigroup and JP Morgan are acting as joint book-running managers of the
offering. Piper Jaffray & Co. will act as Lead Manager and FBR and Ladenburg
Thalmann & Co. Inc. as Co-Managers.
A preliminary prospectus supplement and the prospectus relating to the proposed
offering has been filed with the SEC. The offering may be offered only by means
of a prospectus, including a prospectus supplement, forming a part of the
effective registration statement. 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. When
available, copies of the final prospectus supplement and the prospectus
relating to the proposed offering can be obtained at the SEC's website
http://www.sec.gov or from Citigroup and JP Morgan, Attention: Citigroup, c/o
Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, by
telephone at (800) 831-9146; or J.P. Morgan Securities LLC, c/o Broadridge
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