Novavax (NVAX) Reports Selling 12.3M Common at $2.18/Share

Novavax, Inc. (NASDAQ: NVAX) has raised a total of $27 million through the sale of 12,285,321 shares of its common stock to RA Capital Management, Camber Capital Management and Ayer Capital Management at a price of $2.18 per share. The shares were offered under an effective shelf registration statement previously filed with the Securities and Exchange Commission.

Novavax received proceeds, after deducting offering expenses, of approximately $26.9 million. The net proceeds of the financing will be used for general corporate purposes, including working capital, product development and capital expenditures.

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