BVXV - BiondVax slumps on pricing $9.0 million public offering of ADS

BiondVax Pharmaceuticals (NASDAQ:BVXV) announces the pricing of an underwritten public offering of 3,813,560 ADSs at $2.36 per ADS for gross proceeds of ~$9.0 million. Each ADS represents 40 ordinary shares of BiondVax. In connection, the Company has also granted the underwriters a 45-day option to purchase additional ADSs. If the over-allotment option is exercised in full, it will increase the total gross proceeds of the offering to ~$9.8 million. BiondVax to use the proceeds to advance its recently announced nanosized antibody (NanoAb) development program and for general corporate purposes. The offering is expected to close on or about December 29, 2021, subject to customary closing conditions. BVXV down 15% premarket.

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BiondVax slumps on pricing $9.0 million public offering of ADS