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GeoVax Announces Closing of $12.8 Million Public Offering and Uplisting to Nasdaq
ATLANTA, GA, Sept. 29, 2020 (GLOBE NEWSWIRE) -- via NewMediaWire -- GeoVax Labs, Inc. (NasdaqCM: GOVX, GOVXW) (“GeoVax” or the “Company”), a biotechnology
About this update from Geovax Labs, Inc.
[{"type":"text","content":"ATLANTA, GA, Sept. 29, 2020 (GLOBE NEWSWIRE) -- via NewMediaWire -- GeoVax Labs, Inc. (NasdaqCM: GOVX, GOVXW) (“GeoVax” or the “Company”), a biotechnology company developing human immunotherapies and vaccines against infectious diseases and cancer, today announced the closing of its underwritten public offering of 2,560,000 units of its common stock, pre-funded warrants, and warrants for gross proceeds of $12.8 million before deducting underwriting discounts and commissions and other estimated offering expenses. \n A total of 2,310,000 units were issued at a price to the public of $5.00 per unit consisting of one share of common stock and one five-year warrant to purchase one share of common stock at an exercise price of $5.00, and a total of 250,000 units were issued at a price to the public of $4.99 per unit consisting of one pre-funded warrant to purchase one share of common stock at an exercise price of $0.01 and one five-year warrant to purchase one share of common stock at an exercise price of $5.00. The common stock, pre-funded warrants and warrants were immediately separable. The common stock and warrants began trading on The Nasdaq Capital Market on September 25, 2020, under the symbols “GOVX” and “GOVXW,” respectively. Maxim Group LLC acted as sole book-running manager for the offering and Joseph Gunnar & Co., LLC acted as co-manager for the offering. GeoVax has granted the underwriters a 45-day option to purchase up to an additional 384,000 shares of common stock, pre-funded warrants and/or warrants at the public offering price to cover over-allotments, if any. The offering is being conducted pursuant to the Company’s registration statement on Form S-1 (File No. 333-239958), as amended, previously filed with and subsequently declared effective by the Securities and Exchange Commission (“SEC”). A final prospectus relating to the offering was filed on September 28, 2020 with the SEC and is available on the SEC’s website at http://www.sec.gov. Electronic copies of the final prospectus relating to this offering may be obtained from Maxim Group LLC, 405 Lexington Avenue, 2nd Floor, New York, NY 10174, at (212) 895-3745. This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such o...