Vaxart Announces $10M Registered Direct Offering With RA Capital Management For Sale Of 15,384,615 Shares At $0.65/Share
Portfolio Pulse from Benzinga Newsdesk
Vaxart, Inc. has announced a registered direct offering with RA Capital Management, involving the sale of 15,384,615 shares at a price of $0.65 per share. The gross proceeds from the offering are expected to be approximately $10 million, before expenses. Vaxart plans to use the net proceeds for general corporate purposes, such as working capital, operating expenses, and capital expenditures.
January 16, 2024 | 2:27 pm
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Vaxart, Inc. is raising $10 million through a direct offering of shares at a discounted price, which may dilute existing shareholders but also provides capital for the company's operations and growth.
The direct offering of shares by Vaxart is likely to have a short-term negative impact on the stock price due to the dilution of existing shares. However, the capital raised will support the company's financial needs for working capital and other corporate expenses, which is positive in the longer term. The confidence in this analysis is high due to the clear details provided about the offering and its intended use of proceeds.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100