Business
Virax Biolabs Group Limited Announces $5 Million Registered Direct Offering of Ordinary Shares
LONDON, Aug. 21, 2024 /PRNewswire/ -- Virax Biolabs Group Limited ("Virax" or the "Company") (Nasdaq: VRAX), an innovative biotechnology company focused on
About this update from Virax Biolabs Group Limited
[{"type":"text","content":"LONDON, Aug. 21, 2024 /PRNewswire/ -- Virax Biolabs Group Limited (\"Virax\" or the \"Company\") (Nasdaq: VRAX), an innovative biotechnology company focused on the detection of immune responses and diagnosis of viral diseases, announced today that it has entered into a definitive agreement for the issuance and sale of an aggregate of 1,108,892 of its ordinary shares at a purchase price of $4.50 per share in a registered direct offering. The closing of the offering is expected to occur on or about August 23, 2024, subject to the satisfaction of customary closing conditions.\n\n \n \n \n \n \n \n\n \nH.C. Wainwright & Co. is acting as the exclusive placement agent for the offering.\nThe gross proceeds to the Company from the offering are expected to be approximately $5 million, before deducting the placement agent's fees and other offering expenses payable by the Company. The Company currently intends to use the net proceeds from the offering for working capital and general corporate purposes.\nThe securities described above are being offered and sold by the Company pursuant to a \"shelf\" registration statement on Form F-3 (Registration No. 333-275893), including a base prospectus, previously filed with the Securities and Exchange Commission (\"SEC\") on December 5, 2023, and declared effective by the SEC on December 15, 2023. The securities to be issued in the registered direct offering are being offered only by means of a prospectus, including a prospectus supplement, forming a part of the effective registration statement. A final prospectus supplement and the accompanying base prospectus relating to, and describing the terms of, the registered direct offering will be filed with the SEC and will be available on the SEC's website located at http://www.sec.gov. Electronic copies of the final prospectus supplement and the accompanying base prospectus relating to the registered direct offering, when available, may also be obtained by contacting H.C. Wainwright & Co., LLC at 430 Park Avenue, 3rd Floor, New York, NY 10022, by phone at (212) 856-5711 or e-mail at [email protected].\nThis press release does 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 other jurisdiction in which such offer, solicitation or sale would be unlawf...