ROCKVILLE, Md., Sept. 24, 2013 (GLOBE NEWSWIRE) -- Novavax, Inc. (Nasdaq:NVAX) today announced that it has priced an underwritten public offering of 27,693,000 shares of common stock at a price of $3.14 per share, the closing price of the stock on the previous day, for gross proceeds of approximately $87.0 million. Novavax expects to receive net proceeds, after deducting the underwriting discount, of approximately $82.6 million from the offering. In connection with this offering, Novavax granted the underwriters a 30-day overallotment option to purchase up to an additional 4,153,950 shares of its common stock. Novavax intends to use the net proceeds of the offering for general corporate purposes, the advancement of its clinical-stage vaccine candidates and its pre-clinical research programs. The offering is expected to close on or about September 27, 2013, subject to the satisfaction of customary closing conditions.
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