BWV - Blue Water Vaccines to raise $8M in stock offering

Blue Water Vaccines (NASDAQ:BWV) entered into definitive agreements with several institutional investors for the purchase of 1.18M shares in a private placement priced at-the-market. The company will also issue to the investors unregistered preferred investment options to purchase up to 1.18M shares. The purchase price for one share and one investment option to purchase one share of common stock is $6.775. The investment options have an exercise price of $6.65/share, will be exercisable immediately on issuance, and will have a term equal to four years post the issuance date. Gross proceeds are expected to be ~$8M; net proceeds to be used for research and development of its pipeline as well as for working capital and other general corporate purposes. Offer is expected to close on or about Apr.18.

For further details see:

Blue Water Vaccines to raise $8M in stock offering