Vaxxinity Announces Closing of IPO and Partial Exercise of Underwriters’ Option to Purchase Additional Shares

Rhea-AI Summary

Vaxxinity closed its initial public offering (IPO) on November 15, 2021, selling 6 million shares of class A common stock at $13.00 each, raising approximately $78 million. Additionally, a further 537,711 shares were issued following the underwriters' option, bringing total gross proceeds to around $85 million. The company's stock began trading on Nasdaq under the ticker symbol VAXX on November 11, 2021. This offering positions Vaxxinity to advance its innovative immunotherapeutic vaccines aimed at treating chronic diseases and contributing to public health initiatives.

Positive

• Successfully raised approximately $85 million from IPO and underwriters' option.
• Stock began trading on Nasdaq under the ticker symbol VAXX, establishing market presence.

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• None.

DALLAS, Nov. 18, 2021 (GLOBE NEWSWIRE) -- Vaxxinity, Inc. (“Vaxxinity”), a U.S. company pioneering the development of a new class of immunotherapeutic vaccines, today announced the closing of its initial public offering of 6,000,000 shares of class A common stock at a public offering price of $13.00 per share on November 15, 2021 as well as the subsequent closing on November 18, 2021 of the issuance of an additional 537,711 shares of class A common stock, pursuant to a 30-day option granted to the underwriters to purchase up to an additional 900,000 shares of class A common stock at the initial public offering price, less underwriting discounts and commissions. The gross proceeds from the offering and the partial exercise of the underwriters’ option to purchase additional shares of class A common stock, before deducting underwriting discounts and commissions and other offering expenses payable by Vaxxinity, were approximately $85.0 million. Vaxxinity’s class A common stock began trading on The Nasdaq Global Market on November 11, 2021, under the ticker symbol “VAXX.” All shares in the offering were offered by Vaxxinity.

BofA Securities, Jefferies and Evercore ISI are acting as lead book-running managers for the offering.

A registration statement on Form S-1 relating to the shares being sold in this offering was declared effective by the Securities and Exchange Commission on November 10, 2021. The offering is being made only by means of a prospectus, copies of which may be obtained, when available, from: BofA Securities, Attention: Prospectus Department, NC1-004-03-43, 200 North College Street, 3rd floor, Charlotte, NC 28255-0001 or by email dg.prospectus_requests@bofa.com; Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, 2nd Floor, New York, NY 10022, or by telephone at 1-877-821-7388 or by email at Prospectus_Department@Jefferies.com; or Evercore Group L.L.C., Attention: Equity Capital Markets, 55 East 52nd Street, 35th Floor, New York, New York 10055, or by telephone at 1-888-474-0200, or by email at ecm.prospectus@evercore.com. Copies of the final prospectus related to the offering are available at www.sec.gov.

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 these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.

About Vaxxinity

Vaxxinity, Inc. is a U.S.-based global biotechnology company pioneering a new class of immunotherapeutic vaccines to democratize health. The company’s proprietary technology platform has enabled the innovation of synthetic peptide-based candidates designed to bring the efficiency of vaccines to the treatment of chronic diseases, including Alzheimer’s, Parkinson’s, migraine, and hypercholesterolemia. The technology is also implemented as part of a COVID-19 vaccine program. Vaxxinity has optimized its pipeline to achieve a potentially historic, global impact on human health.

Investor Contact
Claudia Styslinger
vaxxinity@argotpartners.com

Press Contact
Diane Murphy
diane@vaxxinity.com

FAQ

What is the total amount raised by Vaxxinity in its IPO?

Vaxxinity raised approximately $85 million from its IPO and the underwriters' option.

When did Vaxxinity's stock start trading on Nasdaq?

Vaxxinity's stock began trading on Nasdaq on November 11, 2021.

What is the ticker symbol for Vaxxinity?

The ticker symbol for Vaxxinity is VAXX.

How many shares were initially offered by Vaxxinity in its IPO?

Vaxxinity initially offered 6 million shares of class A common stock in its IPO.

What was the initial public offering price for Vaxxinity's shares?

The initial public offering price for Vaxxinity's shares was $13.00 each.