GeoVax Announces Pricing of $9.0 Million Bought Deal Offering
February 08 2021 - 10:43PM
via NewMediaWire --
GeoVax Labs,
Inc. (Nasdaq: GOVX) (“GeoVax” or the “Company”), a
biotechnology company developing human immunotherapies and vaccines
against infectious diseases and cancer, today announced that it has
entered into an underwriting agreement with Maxim Group LLC under
which the underwriter has agreed to purchase, on a firm commitment
basis, 1,440,000 shares of common stock of the Company, at a price
to the public of $6.25 per share less underwriting discounts and
commissions. The gross proceeds from the offering are
expected to be approximately $9.0 million, before deducting
underwriting discounts and commissions and estimated offering
expenses.
GeoVax has granted the underwriters a 45-day option to purchase
up to an additional 204,000 shares of common stock to cover
over-allotments, if any. The offering is expected to close on
February 11, 2021, subject to customary closing conditions.
Maxim Group LLC is acting as sole book-running manager for the
offering.
The shares of common stock are being offered pursuant to a shelf
registration statement on Form S-3 (File No. 333-252437) previously
filed and declared effective by the Securities and Exchange
Commission (SEC). A prospectus supplement will be filed with the
SEC and will form a part of the effective registration statement.
Copies of the prospectus supplement and accompanying prospectus
relating to the public offering may be obtained, when available, by
contacting Maxim Group LLC, 405 Lexington Avenue, 2nd Floor, New
York, NY 10174, or by telephone at (212) 895-3745.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy, nor will there be any sales of
these securities in any jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of such 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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