Virpax Announces Pricing Of $2.25M Public Offering
Author: Benzinga Newsdesk | May 15, 2024 08:22am
Virpax® Pharmaceuticals, Inc. ("Virpax" or the "Company") (NASDAQ:VRPX), a company specializing in developing non-addictive products for pain management, post-traumatic stress disorder, central nervous system (CNS) disorders and anti-viral barrier indications, announced today the pricing of a public offering of 1,666,667 shares of common stock (or common stock equivalents in lieu thereof), Series A-1 common warrants to purchase up to 1,666,667 shares of common stock, and Series A-2 common warrants to purchase up to 1,666,667 shares of common stock, at a combined public offering price of $1.35 per share and associated Series A-1 common warrant to purchase one share of common stock and Series A-2 common warrant to purchase one share of common stock, for aggregate gross proceeds of approximately $2.25 million, before deducting placement agent fees and other offering expenses. The Series A-1 warrants will have an exercise price of $1.35 per share, will be exercisable immediately, and will expire five years from the initial issuance date. The Series A-2 warrants will have an exercise price of $1.35 per share, will be exercisable immediately, and will expire eighteen months from the initial issuance date.
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