Evaxion Biotech A/S (EVAX) Prices 3M ADS IPO at $10/ADS

Evaxion Biotech A/S (NASDAQ: EVAX), a clinical-stage biotechnology company specializing in the development of AI-driven immunotherapies to improve the lives of patients with cancer and infectious diseases, today announced the pricing of its initial public offering of 3,000,000 American Depositary Shares (“ADSs”), at a public offering price of $10 per ADS, with each such ADS representing one ordinary share, DKK 1 nominal value per share, of Evaxion (“Ordinary Shares”). The gross proceeds from the offering are expected to be approximately $30 million before deducting underwriting fees and commissions and other offering expenses. Evaxion has granted the underwriters an option for a period of 30 days from the date of the final prospectus to purchase an additional 450,000 ADSs at the initial public offering price.

The ADSs have been approved for listing on the Nasdaq Capital Market and are expected to begin trading on February 5, 2021 under the ticker symbol “EVAX”. The offering is expected to close on February 9, 2021, subject to the satisfaction of customary closing conditions.

Oppenheimer & Co. Inc. is acting as sole book-running manager of the offering. Ladenburg Thalmann & Co. Inc. is acting as lead manager of the offering.

The Form F-1 registration statement and the F-6 registration statement related to the offering have been declared effective by the U.S. Securities and Exchange Commission.

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