Core Viewpoint - Evaxion Biotech A/S has announced a public offering of 3,997,361 American Depositary Shares (ADSs) and warrants, priced at 10.8 million for advancing its clinical pipeline and operational expenses [1][4]. Group 1: Offering Details - The public offering includes warrants to purchase up to 50% of the ADSs offered, with an exercise price of $2.71 per ADS, exercisable immediately and expiring five years after issuance [3]. - The offering is expected to close on or about January 31, 2025, pending customary closing conditions [3]. - Lake Street Capital Markets, LLC and Jones are acting as exclusive placement agents for the offering [4]. Group 2: Participation and Use of Proceeds - MSD Global Health Innovation Fund, along with healthcare-focused investment funds and members of Evaxion's Board of Directors and Management, are participating in the offering [2]. - The net proceeds from the offering will be used to advance the company's preclinical and clinical pipeline, as well as for ongoing operating expenses and working capital [4]. Group 3: Company Overview - Evaxion Biotech A/S is a clinical-stage TechBio company that utilizes its AI-Immunology™ platform to develop vaccines targeting cancer, bacterial diseases, and viral infections [8]. - The company aims to transform patient care by providing innovative and targeted treatment options through its proprietary AI prediction models [8].
Evaxion announces pricing of $10.8 million public offering