Novavax closes public offering for 6.8 million shares, nets $21 million in proceeds
By APWednesday, December 9, 2009
Novavax closes offering for 6.8 million shares
ROCKVILLE, Md. — Biotech drug developer Novavax Inc. said Wednesday it closed a public offering for 6.8 million shares of common stock.
The company announced the offering, at $3.30 per share, Nov. 20. At the time, it was a 12 percent discount to the stock’s prior closing price of $3.77 per share.
Novavax said it will use net proceeds of $21 million to fund research and development, capital expenses, and for general corporate purposes.
Piper Jaffray & Co. and Lazard Capital Markets LLC were joint bookrunning managers.
Shares of Novavax fell 2 cents to $3.17 in morning trading.
Filed under: Corporate, Corporate News
Tags: Maryland, Middle East, North America, Rockville, United States
Tags: Maryland, Middle East, North America, Rockville, United States
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