BiondVax Pharmaceuticals prices ~$8M underwritten public offering
Dec. 16, 2022 9:07 AM ETBiondVax Pharmaceuticals Ltd. (BVXV)IBNBy: Mary Christine Joy, SA News Editor
- Immunotherapeutic products company BiondVax Pharmaceuticals (NASDAQ:BVXV) priced an ~$8M underwritten public offering.
- The offering consists of 1.6M units and pre-funded units, with each unit consisting of one American Depositary Share and two warrants, each to purchase one ADS. Each pre-funded unit consists of one pre-funded warrant to purchase one ADS and two warrants each to purchase one ADS.
- Each ADS (or pre-funded warrant) is being sold together with two warrants at a combined purchase price of $5 per unit (or $4.999 per pre-funded unit after reducing $0.001 attributable to the exercise price of the pre-funded warrants).
- Each ADS represents 400 ordinary shares, no par value per share.
- The offering is expected to close on Dec. 20.
- The net proceeds are expected to be used for the advancement of the company's NanoAbs development program, as well as general corporate purposes.
- Source: Press Release