HilleVax (HLVX) Announces Proposed $100M Share Offering

HilleVax, Inc. (Nasdaq: HLVX), a clinical-stage biopharmaceutical company focused on developing and commercializing novel vaccines, today announced that it intends to offer and sell, subject to market and other conditions, $100.0 million of shares of its common stock in an underwritten public offering. All of the shares are being offered by HilleVax. In addition, HilleVax expects to grant the underwriters a 30-day option to purchase up to an additional $15.0 million of shares of common stock at the public offering price, less underwriting discounts and commissions. The proposed offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the proposed offering.

HilleVax intends to use the net proceeds from the proposed offering to fund the clinical development of HIL-214, including certain manufacturing activities, and for working capital and general corporate purposes.

J.P. Morgan, Leerink Partners, Stifel and Guggenheim Securities are acting as joint book-running managers for the offering.

The securities described above are being offered by HilleVax pursuant to a shelf registration statement (including a base prospectus) relating to these securities that was filed with the Securities and Exchange Commission (SEC) on May 12, 2023, and became effective on May 19, 2023. This offering may be made only by means of a prospectus supplement and the accompanying prospectus. A preliminary prospectus supplement and accompanying prospectus relating to this offering will be filed with the SEC and will be available on the SEC’s website at www.sec.gov. When available, copies of the preliminary prospectus supplement and the accompanying prospectus related to this offering may also be obtained from J.P. Morgan Securities LLC, Attention: Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, by telephone at (866) 803-9204, or by email at [email protected]; Leerink Partners LLC, Attention: Syndicate Department, 53 State Street, 40th Floor, Boston, MA 02109, by telephone at (800) 808-7525, ext. 6105, or by email at [email protected]; Stifel, Nicolaus & Company, Incorporated, Attention: Syndicate Department, One Montgomery Street, Suite 3700, San Francisco, CA 94104, by telephone at (415) 364-2720, or by email at [email protected]; or Guggenheim Securities, LLC, Attention: Equity Syndicate Department, 330 Madison Avenue, 8th Floor, New York, NY 10017, by telephone at (212) 518-9658, or by email at [email protected].

This press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any offer or sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or jurisdiction.

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