Novavax Announces Proposed Public Offering of Common Stock
March 24 2015 - 3:01PM
Novavax, Inc. (Nasdaq:NVAX), a clinical-stage vaccine company
focused on the discovery, development and commercialization of
recombinant nanoparticle vaccines and adjuvants, today announced
that it intends to offer to sell, subject to market and other
conditions, $175 million of its common stock in an underwritten
public offering. As part of this offering Novavax intends to grant
the underwriters a 30-day option to purchase up to an additional
$26.25 million of its common stock.
J.P. Morgan and Citigroup are acting as joint book-running
managers of the offering.
All shares being offered are to be sold by Novavax with the net
proceeds from the offering to be used for the advancement of
Novavax' lead vaccine candidates, including the preparation and
potential initiation of Phase 3 clinical trials of its elderly RSV
and maternal RSV programs, as well as its other clinical and
preclinical research programs and general corporate purposes,
including working capital, product development, manufacturing and
process development expenditures and capital expenditures, as well
as acquisitions and other strategic purposes.
The securities described above are being offered by Novavax
pursuant to its registration statement on Form S-3 previously filed
and declared effective by the Securities and Exchange Commission
(SEC). This press release does not constitute an offer to sell or a
solicitation of an offer to buy the securities in the offering, nor
shall there be any sale of these securities in any jurisdiction in
which an offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of such
jurisdiction. The offering may be made only by means of the
preliminary prospectus supplement and the prospectus relating to
the proposed offering, copies of which may be obtained, when
available, from J.P. Morgan and Citigroup, Attention: J.P. Morgan
Securities LLC, c/o Broadridge Financial Solutions, 1155 Long
Island Avenue, Edgewood, NY 11717 or by telephone: (866) 803-9204;
or Citigroup, c/o Broadridge Financial Solutions, 1155 Long Island
Avenue, Edgewood, NY 11717, by telephone at (800) 831-9146.
About Novavax
Novavax, Inc. (Nasdaq:NVAX) is a clinical-stage vaccine company
committed to delivering novel products to prevent a broad range of
infectious diseases. Its recombinant nanoparticles and Matrix-M™
adjuvant technology are the foundation for ground-breaking
innovation that improves global health through safe and effective
vaccines.
Forward-Looking Statements
Statements contained in this release, including those relating
to the sale of common stock, and those statements using words such
as "expects" and "intends" are forward-looking statements that
involve a number of risks and uncertainties that could cause actual
results to differ materially from those in the forward-looking
statements. These risks and uncertainties include, but are not
limited to: our ability to successfully complete the offering on
terms and conditions satisfactory to us; the possible adverse
impact on the market price of our shares of common stock due to the
dilutive effect of the securities to be sold in the offering; our
planned use of the proceeds from this offering; capital market
risks; our ability to raise additional capital when needed; and
other risk factors identified from time to time in the reports we
file with Securities and Exchange Commission (SEC), including our
Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, and
Current Reports on Form 8-K, which are available at www.sec.gov. We
caution investors not to place considerable reliance on the
forward-looking statements contained in this press release. The
forward-looking statements in this press release speak only as of
the date of this document, and we undertake no obligation to update
or revise any of the statements. Our business is subject to
substantial risks and uncertainties, including those referenced
above. Investors, potential investors, and others should give
careful consideration to these risks and uncertainties.
CONTACT: Novavax, Inc.
Barclay A. Phillips
SVP, Chief Financial Officer and Treasurer
Andrea N. Flynn, Ph.D.
Senior Manager, Investor Relations
ir@novavax.com
240-268-2000
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