Virax Biolabs Group Limited Announces $5 Million Registered Direct Offering of Ordinary Shares

Core Viewpoint - Virax Biolabs Group Limited has announced a definitive agreement for the issuance and sale of 1,108,892 ordinary shares at a price of $4.50 per share, aiming to raise approximately $5 million in gross proceeds for working capital and general corporate purposes [1][2]. Group 1 - The closing of the offering is expected to occur on or about August 23, 2024, pending customary closing conditions [1]. - H.C. Wainwright & Co. is acting as the exclusive placement agent for this offering [2]. - The net proceeds from the offering will be utilized for working capital and general corporate purposes [2]. Group 2 - The securities are being offered under a "shelf" registration statement on Form F-3, previously filed with the SEC [3]. - A final prospectus supplement and accompanying base prospectus will be filed with the SEC and made available on their website [3]. - The offering is conducted in compliance with securities laws, and no unlawful offers or sales will occur [4]. Group 3 - Virax Biolabs Group Limited focuses on the detection of immune responses and diagnosis of viral diseases, developing T-Cell-based test technologies [5]. - The company aims to provide an immunology profiling platform, particularly effective for diagnosing post-viral syndromes like Long COVID [5].