Vaxcyte Announces Closing of $862.5 Million Public Offering Including Full Exercise of Underwriters’ Option to Purchase Additional Shares
03 February 2024 - 10:39AM
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
closing of its previously announced underwritten public offering of
12,695,312 shares of common stock at a public offering price
of $64.00 per share and pre-funded warrants to purchase
781,250 shares of common stock at a public offering price
of $63.999 per underlying share. This includes the
exercise in full by the underwriters of their option to purchase up
to 1,757,812 additional shares of common stock at the public
offering price per share, less underwriting discounts and
commissions. The aggregate gross proceeds to Vaxcyte from this
offering were approximately $862.5 million, before deducting
underwriting discounts and commissions and other offering expenses
payable by Vaxcyte.
BofA Securities, Jefferies, Leerink Partners LLC, Evercore ISI,
Guggenheim Securities and Cantor acted as joint book-running
managers for the offering. BTIG and Needham & Company acted 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 final prospectus supplement and accompanying prospectus relating
to the offering has been filed with the SEC and is 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 from BofA Securities NC1-022-02-25,
Attention: Prospectus Department, 201 North Tryon Street,
Charlotte, North Carolina 28255-0001 or by email
at dg.prospectus_requests@bofa.com; Jefferies LLC, Attention:
Equity Syndicate Department, 520 Madison Avenue, New York, New York
10022, by telephone at 1-877-821-7388, or by email
at Prospectus_Department@Jefferies.com; Leerink Partners LLC,
Attention: Syndicate Department, 53 State Street, 40th Floor,
Boston, MA 02109, by email at syndicate@leerink.com or by
phone at (800) 808-7525, ext. 6105; and Evercore Group L.L.C.,
Attention: Equity Capital Markets, 55 East 52nd Street, 35th Floor,
New York, New York 10055, by telephone at 1-888-474-0200 or by
email at ecm.prospectus@evercore.com.
This press release shall not constitute an offer to sell or a
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 offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such
state or jurisdiction.
About VaxcyteVaxcyte is a vaccine innovation
company engineering high-fidelity vaccines to protect humankind
from the consequences of bacterial diseases. The Company is
developing broad-spectrum conjugate and novel protein vaccines to
prevent or treat bacterial infectious diseases. Vaxcyte’s lead
candidate, VAX-24, is a Phase 3-ready 24-valent, broad-spectrum,
carrier-sparing pneumococcal conjugate vaccine (PCV) being
developed for the prevention of invasive pneumococcal disease.
VAX-31, the Company’s next-generation 31-valent PCV, is the
broadest-spectrum PCV candidate in the clinic today.
Vaxcyte is re-engineering the way highly complex vaccines are
made through modern synthetic techniques, including advanced
chemistry and the XpressCF™ cell-free protein synthesis platform,
exclusively licensed from Sutro Biopharma, Inc. Unlike conventional
cell-based approaches, the Company’s system for producing
difficult-to-make proteins and antigens is intended to accelerate
its ability to efficiently create and deliver high-fidelity
vaccines with enhanced immunological benefits. Vaxcyte’s pipeline
also includes VAX-A1, a prophylactic vaccine candidate designed to
prevent Group A Strep infections; VAX-PG, a therapeutic vaccine
candidate designed to slow or stop the progression of periodontal
disease; and VAX-GI, a vaccine program designed to prevent
Shigella. Vaxcyte is driven to eradicate or treat invasive
bacterial infections, which have serious and costly health
consequences when left unchecked.
Contacts:Janet Graesser, Vice President,
Corporate Communications and Investor RelationsVaxcyte,
Inc.917-685-8799media@vaxcyte.com
Jennifer Zibuda, Senior Director, Investor RelationsVaxcyte,
Inc.860-729-8902investors@vaxcyte.com
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