Virpax Pharmaceuticals Inc. (VRPX) Prices 1.8M Share IPO at $10/Sh

February 17, 2021 5:53 AM EST

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Virpax Pharmaceuticals Inc. (NASDAQ: VRPX) today announced the pricing of its initial public offering of 1,800,000 shares of its common stock at a public offering price of $10.00 per share, for gross proceeds of $18.0 million, before deducting underwriting discounts and offering expenses. In addition, Virpax has granted the underwriters a 30-day option to purchase up to an additional 270,000 shares of common stock to cover over-allotments at the initial public offering price, less the underwriting discount. All of the shares of common stock are being offered by the Company.

The shares are expected to begin trading on the Nasdaq Capital Market on February 17, 2021, under the symbol "VRPX." The offering is expected to close on February 19, 2021, subject to satisfaction of customary closing conditions.

The Company intends to use substantially all of the net proceeds from the offering to fund research and development of its Epoladerm™, Probudur™, Envelta™ and MMS019 indications and other development programs, and for working capital and other general corporate purposes.

ThinkEquity, a division of Fordham Financial Management, Inc., is acting as sole book-running manager for the offering.

A registration statement on Form S-1 (File No. 333-249417) was filed with the Securities and Exchange Commission ("SEC"), which became effective on February 16, 2021, and the related registration statement on Form S-1 (File No. 333-253176), was filed with the SEC under Rule 462(b) of the Securities Act of 1933, as amended, relating to the shares of common stock being offered.



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