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Vaxart down 9% after pricing equity offering

Sep. 26, 2019 11:11 AM ETVaxart, Inc. (VXRT) StockVXRTBy: Douglas W. House, SA News Editor
  • Thinly traded nano cap Vaxart (VXRT -9.4%) is down on a 16x surge in volume in response to its $8M capital raise. Specifically, it is offering ~26.7M common shares, each with an accompanying five-year warrant to purchase one share at $0.30, at at combined price of $0.30. It is also offering pre-funded warrants to purchase up to 4.1M shares.
  • Gross proceeds should be ~$8M if the pre-funded warrants are fully exercised (~$7.6M if none are exercised).
  • Underwriters over-allotment is an additional 4M common shares and/or warrants to purchase up to 4M shares. Closing date is September 30.

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