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Novavax Floats New Stock Issue

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Novavax (NASDAQ: NVAX  ) is about to take an injection of fresh capital. The company is floating just under 27.7 million shares of its common stock in an underwritten public offering priced at $3.14 per share. Additionally, the issue's underwriters have been granted a 30-day purchase option for up to an additional 4,153,950 shares to cover overallotments.

Novavax said it plans to use the offering's anticipated net proceeds of roughly $82.6 million for "general corporate purposes, the advancement of its clinical-stage vaccine candidates and its pre-clinical research programs."

Lazard Capital Markets is the sole book-running manager of the issue, which is expected to close on or about this Friday.

Currently, Novavax has nearly 152.7 million shares outstanding, and its stock most recently closed at $3.21 per share.


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Eric Volkman
TMFVolkman

Eric has been writing about stocks and finance since the mid-1990s, when he lived in Prague, Czech Republic. Over the course of a varied career, he has also been a radio newscaster, an investment banker, and a bass player in a selection of rock and roll bands. A native New Yorker, he currently lives in Los Angeles.

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Related Tickers

7/2/2015 3:59 PM
NVAX $10.88 Down -0.12 -1.09%
Novavax, Inc. CAPS Rating: ***

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