The biotech drug developer announced the offering, at $3.30 per share, at a 12 percent discount to the stock’s prior closing price of $3.77 as of November 20.
The $21 million net proceeds will be used to fund research and development, capital expenses, and general corporate purposes. Piper Jaffray & Co and Lazard Capital Markets LLC were joint bookrunning managers.
Novavax stocks fell 2 cents to $3.17 in morning trading.
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