SAN CARLOS, Calif., Sept. 04, 2024 (GLOBE NEWSWIRE) — Vaxcyte, Inc. (Nasdaq: PCVX), a clinical-stage vaccine innovation company designing high-fidelity vaccines to protect humanity from the consequences of bacterial disease, today announced the pricing of an underwritten public offering of its common stock and pre-funded warrants. Vaxcyte is selling 10,194,175 shares of its common stock and pre-funded warrants to purchase 2,427,184 shares of its common stock in the offering. The common stock is being sold at a public offering price of $103.00 per share, and the pre-funded warrants are being sold at a public offering price of $102.999 per pre-funded warrant. The exercise price of the pre-funded warrants is $0.001 per share. Total gross proceeds to Vaxcyte from this offering are expected to be approximately $1.3 billion, before deducting underwriting discounts and commissions and other offering expenses, and excluding the exercise of any pre-funded warrants. Vaxcyte will tender all of the common shares and pre-funded warrants to be sold in the offering. Vaxcyte has granted the underwriters a 30-day option to purchase up to an additional 1,893,203 common shares at the public offering price per share, less underwriting discounts and commissions.
The offering is expected to close on September 6, 2024, subject to the satisfaction of customary closing conditions.
BofA Securities, Jefferies, Leerink Partners, Goldman Sachs & Co. LLC, Evercore ISI, Guggenheim Securities and Mizuho are acting as joint bookrunners for the offering.
A registration statement for the securities being offered has been filed with the Securities and Exchange Commission (SEC) and became effective automatically upon filing on May 24, 2024. A preliminary prospectus supplement and an accompanying prospectus relating to the offering have been filed, and a final prospectus supplement and an accompanying prospectus relating to the offering will be filed with the SEC and will be available on the SEC’s website located at www.sec.gov. Copies of the final prospectus supplement and the accompanying prospectus relating to this offering, when available, may be obtained from BofA Securities NC1-022-02-25, Attention: Prospectus Department, 201 North Tryon Street, Charlotte, North Carolina 28255-0001 or by email to dg.prospectus_requests@bofa.com; Jefferies LLC, Attention: Equity Syndication Department, 520 Madison Avenue, New York, New York 10022, by telephone at 1-877-821-7388, or by email at Prospectus_Department@Jefferies.com; Leerink Partners LLC, Attention: Syndication Department, 53 State Street (NYSE:), 40th Floor, Boston, MA 02109, by email at syndicate@leerink.com or by telephone at (800) 808-7525, ext. 6105; Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, NY 10282, by email at prospectus-ny@ny.email.gs.com or by telephone at (866) 471-2526; Evercore Group LLC, Attention: Equity Capital Markets, 55 East 52nd Street, 35th Floor, New York, New York 10055, by telephone at 1-888-474-0200 or by email at ecm.prospectus@evercore.com; Guggenheim Securities, LLC, Attention: Equity Syndicate Department, 330 Madison Avenue, 8th Floor, New York, NY 10017, by telephone at (212) 518-9544, or by email at GSEquityProspectusDelivery@guggenheimpartners.com; and Mizuho Securities USA LLC, 1271 Avenue of the Americas, Third Floor, New York, NY 10021, or by email at Us-ecm@mizuhogroup.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 these 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 Vaxcyte
Vaxcyte is a vaccine innovation company designing high-fidelity vaccines to protect humanity from the consequences of bacterial diseases. The company is developing broad-spectrum conjugate vaccines and novel protein vaccines to prevent or treat bacterial infectious diseases. VAX-31 is a Phase 3-ready, carrier-preserved, 31-valent pneumococcal conjugate vaccine (PCV) being developed for the prevention of invasive pneumococcal disease (IPD) in adults and infants and is the broadest-spectrum PCV vaccine candidate currently in clinical practice. VAX-24, the Company’s 24-valent PCV vaccine candidate, is designed to cover more serotypes than any childhood vaccine on the market and is currently being evaluated in a Phase 2 childhood study. Both VAX-31 and VAX-24 are designed to improve upon standard PCV vaccines by covering circulating serotypes that are responsible for a significant portion of domestic infectious diseases and are associated with high case fatality rates, antibiotic resistance, and meningitis, while maintaining coverage of previously circulating strains that are currently contained through continued vaccination practice.
Vaxcyte is redesigning the way highly complex vaccines are made through modern synthetic techniques, including advanced chemistry and the XpressCF™ cell-free protein synthesis platform, exclusively licensed from Sutro Biopharma (NASDAQ:), Inc. Unlike conventional cell-based approaches, the Company’s system for producing difficult-to-manufacture proteins and antigens is intended to accelerate its ability to efficiently create and deliver high-fidelity vaccines with enhanced immunological benefits. Vaxcyte’s product pipeline also includes VAX-A1, a prophylactic vaccine candidate designed to prevent Group A Streptococcus infections; VAX-PG, a therapeutic vaccine candidate designed to slow or stop the progression of periodontal disease; and VAX-GI, a vaccine candidate designed to prevent Shigella. Vaxcyte aims to eradicate or treat invasive bacterial infections, which have serious and costly health consequences if left unchecked.
Contacts:
Patrick Ryan, Executive Director of Corporate Communications
Malaria Vaccine, Inc.
415-606-5135
media@vaxcyte.com
Jennifer Zibuda, Senior Director, Investor Relations
Malaria Vaccine, Inc.
860-729-8902
investors@vaxcyte.com
Source: Vaxcyte, Inc.