FUJIY - Novavax to pay FUJIFILM up to $185M after cancelling manufacturing contract

• Novavax ( NASDAQ: NVAX ) will pay FUJIFILM Holdings ( OTCPK:FUJIF ) up to $185M as a result of ending manufacturing as part of a commercial supply agreement.
• Novavax will pay $34.3M in four equal quarterly installments beginning on March 31, 2023, according to an SEC filing . The company is being credited with a $47.8 million payment it made as part of a reservation fee for the agreement.
• Under a settlement agreement, FUJIFILM ( OTCPK:FUJIY ) is required to try and mitigate the losses associated with the vacant manufacturing capacity. The last two installments will be adjusted by any replacement revenue FUJIFILM ( OTCPK:FUJIF ) records between July 1, 2023 and December 31, 2023.
• Seeking Alpha's Quant Rating views Novavax ( NVAX ) as a strong sell.

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