Virpax Pharmaceuticals (VRPX) Prices $6M Offering at $0.20/sh

Virpax Pharmaceuticals, Inc. (Nasdaq: VRPX) (“Virpax” or the “Company”), a preclinical-stage pharmaceutical company focused in novel and proprietary drug delivery systems across various pain indications, announced today the pricing of its public offering of $0.20 of shares of the Company’s common stock, par value 0.00001 per share, and/or pre-funded warrants to purchase shares of common stock at a public offering price of $0.19999 per share (minus $0.00001 per pre-funded warrant). The Company intends to use the proceeds of the offering to fund our ongoing development activities for commencing clinical trial for our product candidate Probudur, marketing and advertising services to communicate information about the Company to the financial community, as well as for working capital and other general corporate purposes.

Spartan Capital Securities, LLC is acting as the exclusive placement agent in connection with the offering.

The offering is expected to close on January 29, 2025, subject to customary closing conditions. The offering is being conducted pursuant to the Company’s registration statement on Form S-1, as amended (File No. 333-284089), initially filed with the Securities and Exchange Commission (the “SEC”) on December 30, 2024, as amended on January 15, 2025 and January 17, 2025, and subsequently declared effective by the SEC on January 27, 2025. The offering is being made only by means of a prospectus. A final prospectus relating to the offering will be filed with the SEC and will be available on the SEC’s website at https://www.sec.gov/. Copies of the final prospectus relating to this offering, when available, may be obtained from Spartan Capital Securities, LLC, at 45 Broadway, 19th Floor, New York, NY 10006.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy any of the securities described herein, nor shall there be any sale of these securities in any state or other 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 other jurisdiction.

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