Novavax (NVAX) Raises $200M from Private Placement with RA Capital
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Novavax to Raise $200 Million from Private Placement with RA Capital
June 15, 2020 10:09 AM EDTGAITHERSBURG, Md., June 15, 2020 (GLOBE NEWSWIRE) -- Novavax, Inc. (NASDAQ: NVAX), a late-stage biotechnology company developing next-generation vaccines for serious infectious diseases, today announced that it has entered into an agreement to sell Series A Convertible preferred stock, convertible into 4,388,852 shares of common stock, to an investment fund affiliated with RA Capital Management (RA Capital) in a private placement, at an effective purchase price per share of common stock equal to the June 12, 2020 closing price. Upon closing Novavax will receive gross proceeds of approximately $200 million.
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