Bookrunner Lazard, co-lead managers Piper Jaffray and Wedbush assist
By Devika Patel
Knoxville, Tenn., Sept. 27 - Novavax, Inc. said the underwriters for its public sale of stock opted to exercise the deal's $13.04 million greenshoe in full for total proceeds of $100 million. The deal priced for $86.96 million with the greenshoe on Sept. 24.
The company sold 31,846,950 common shares at $3.14 per share. The price per share is identical to the Sept. 23 closing share price. Of the shares, 4,153,950 comprised the fully exercised greenshoe.
Lazard Capital Markets LLC was the sole bookrunner.
Proceeds will be used for general corporate purposes and advancing the company's clinical-stage vaccine candidates and pre-clinical research programs.
Based in Rockville, Md., Novavax develops vaccines against infectious diseases.
| Issuer: | Novavax, Inc.
|
| Issue: | Common stock
|
| Amount: | $99,999,423 (including $13,043,403 greenshoe)
|
| Shares: | 31,846,950
|
| Price: | $3.14
|
| Warrants: | No
|
| Bookrunner: | Lazard Capital Markets LLC
|
| Co-lead managers: | Piper Jaffray & Co. and Wedbush PacGrow Life Sciences
|
| Co-manager: | Burrill Securities LLC
|
| Pricing date: | Sept. 24
|
| Settlement date: | Sept. 27
|
| Stock symbol: | Nasdaq: NVAX
|
| Stock price: | $3.14 at close Sept. 23
|
| Market capitalization: | $481.69 million
|
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