Vaccitech Announces Pricing of Initial Public Offering

Rhea-AI Summary

Vaccitech has announced the pricing of its initial public offering (IPO) of 6,500,000 American Depositary Shares (ADSs), priced at $17.00 each, aiming for total gross proceeds of $110.5 million. The offering will commence trading on Nasdaq under the ticker symbol 'VACC' on April 30, 2021. Additionally, Vaccitech offers underwriters a 30-day option to purchase up to 975,000 additional ADSs at the IPO price. The expected closure of the offering is set for May 4, 2021, pending customary conditions.

Positive

• Total gross proceeds expected to be $110.5 million from the IPO.
• Underwriters have a 30-day option to buy up to 975,000 additional ADSs, potentially increasing funding.

Negative

• Dilution risk for existing shareholders due to new shares being issued.

OXFORD, United Kingdom, April 29, 2021 (GLOBE NEWSWIRE) -- Vaccitech plc (“Vaccitech”) (Nasdaq: VACC), a clinical-stage biopharmaceutical company engaged in the discovery and development of novel immunotherapeutics and vaccines for the treatment and prevention of infectious diseases and cancer, today announced the pricing of its initial public offering in the United States of 6,500,000 American Depositary Shares (“ADSs”) representing 6,500,000 ordinary shares at an initial public offering price of $17.00 per ADS for total gross proceeds of $110.5 million. All ADSs sold in the offering are being offered by Vaccitech. The ADSs are expected to begin trading on The Nasdaq Global Market on April 30, 2021 under the ticker symbol “VACC.”  In addition, Vaccitech has granted the underwriters a 30-day option to purchase up to an additional 975,000 ADSs at the initial public offering price, less underwriting discounts and commissions. The offering is expected to close on May 4, 2021, subject to satisfaction of customary closing conditions.

Morgan Stanley, Jefferies, Barclays and William Blair are acting as book-runners for the offering. H.C. Wainwright & Co. is acting as lead manager for the offering.

A registration statement on Form S-1 relating to these securities was declared effective on April 29, 2021. The securities referred to in this announcement are being offered only by means of a prospectus. A copy of the final prospectus, when available, may be obtained from: Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014, or by email at prospectus@morganstanley.com; Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, 2nd Floor, New York, NY 10022, by telephone at (877) 821-7388 or by email at prospectus_department@jefferies.com; Barclays Capital Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 or by email at barclaysprospectus@broadridge.com or telephone at 1-888-603-5847; or William Blair & Company, L.L.C., Attention: Prospectus Department, 150 North Riverside Plaza, Chicago, IL 60606, by telephone at (800) 621-0687, or by email at prospectus@williamblair.com.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of any 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 Vaccitech plc
Vaccitech is a clinical-stage biopharmaceutical company engaged in the discovery and development of novel immunotherapeutics and vaccines for the treatment and prevention of infectious diseases and cancer. The company’s proprietary platform comprises proprietary modified simian adenoviral vectors, known as ChAdOx1 and ChAdOx2, as well as the well-validated Modified Vaccinia Ankara, or MVA, boost vector, both with demonstrable safety profiles and without the ability to replicate in humans. The combination of a ChAdOx prime treatment with subsequent MVA boost has consistently generated significantly higher magnitudes of CD8+ T cells compared with other technologies and approaches. The company has a broad pipeline of both clinical and preclinical stage therapeutic programs in solid tumors and viral infections and prophylactic viral vaccine programs. Vaccitech co-invented a COVID-19 vaccine with the University of Oxford, now approved for use in many territories and exclusively licensed worldwide to AstraZeneca through Oxford University Innovation, or OUI. Vaccitech is entitled to receive a share of the milestones and royalty income received by OUI from AstraZeneca.

Vaccitech Media contacts:
Katja Stout, Scius Communications (EU)
Direct: +44 (0) 7789435990
Email: katja@sciuscommunications.com

Ryo Imai / Robert Flamm, Ph.D. (US), Burns McClellan, Inc.
212-213-0006 ext. 315 / 364
Email: rimai@burnsmc.com / rflamm@burnsmc.com

Henry Hodge, Vaccitech
Direct: +44 (0) 7533 421 442
Email: henry.hodge@vaccitech.co.uk

FAQ

What is the IPO price for Vaccitech's ADSs?

The IPO price for Vaccitech's ADSs is $17.00 each.

How many ADSs is Vaccitech offering in its IPO?

Vaccitech is offering 6,500,000 ADSs in its IPO.

When will Vaccitech begin trading on Nasdaq?

Vaccitech's ADSs are expected to begin trading on Nasdaq on April 30, 2021.

What are the total gross proceeds expected from Vaccitech's IPO?

The total gross proceeds expected from Vaccitech's IPO are $110.5 million.

What is the ticker symbol for Vaccitech on Nasdaq?

The ticker symbol for Vaccitech on Nasdaq is 'VACC'.