Novavax Announces Proposed Public Offering of Common Stock
March 24 2015 - 4:09PM
GAITHERSBURG, Md.,
March 24, 2015 (GLOBE NEWSWIRE) -- 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(TM)
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
|
This
announcement is distributed by NASDAQ OMX Corporate Solutions on
behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: Novavax, Inc. via Globenewswire
HUG#1906002
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