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Vaxcyte Announces Pricing of $750 Million Public Offering
SAN CARLOS, Calif., Jan. 30, 2024 (GLOBE NEWSWIRE) -- Vaxcyte, Inc. (Nasdaq: PCVX), a clinical-stage vaccine innovation company engineering high-fidelity
About this update from Vaxcyte, Inc.
[{"type":"text","content":"SAN CARLOS, Calif., Jan. 30, 2024 (GLOBE NEWSWIRE) -- Vaxcyte, Inc. (Nasdaq: PCVX), a clinical-stage vaccine innovation company engineering high-fidelity vaccines to protect humankind from the consequences of bacterial diseases, announced today the pricing of an underwritten public offering of common stock and pre-funded warrants. Vaxcyte is selling 10,937,500 shares of common stock and pre-funded warrants to purchase 781,250 shares of common stock in the offering. The shares of common stock are being sold at a public offering price of $64.00 per share, and the pre-funded warrants are being sold at a public offering price of $63.999 per pre-funded warrant. The exercise price of the pre-funded warrants is $0.001 per share. The aggregate gross proceeds to Vaxcyte from this offering are expected to be approximately $750.0 million, before deducting underwriting discounts and commissions and other offering expenses, and excluding the exercise of any pre-funded warrants. All shares of common stock and pre-funded warrants to be sold in the offering will be offered by Vaxcyte. Vaxcyte has granted the underwriters a 30-day option to purchase up to an additional 1,757,812 shares of its common stock at the public offering price per share, less underwriting discounts and commissions. The offering is expected to close on February 2, 2024, subject to the satisfaction of customary closing conditions. BofA Securities, Jefferies, Leerink Partners LLC, Evercore ISI, Guggenheim Securities and Cantor are acting as joint book-running managers for the offering. BTIG and Needham & Company are acting as lead managers for the offering. A shelf registration statement relating to the offered securities was filed with the Securities and Exchange Commission (SEC), and was automatically effective upon filing on July 2, 2021. A preliminary prospectus supplement and accompanying prospectus relating to the offering has been filed, and a final prospectus supplement and accompanying prospectus relating to the offering will be filed with the SEC and will be available on the SEC’s website, located at www.sec.gov. Copies of the final prospectus supplement and the accompanying prospectus relating to this offering may be obtained, when available, from BofA Securities NC1-022-02-25, Attention: Prospectus Department, 201 North Tryon Street, Charlotte, North Carolina 282...