Evaxion Biotech A/S announced on January 31, 2025, the closing of a public offering that raised gross proceeds of $10.8 million. The offering included an aggregate of 3,997,361 American Depositary Shares (ADSs) and warrants to purchase up to 50% of the offered ADSs.
The securities were priced at $2.71 per ADS, with one accompanying warrant for each two ADSs. Notably, MSD Global Health Innovation Fund, a corporate venture capital arm of Merck & Co., Inc., participated in this offering, alongside other healthcare-focused investment funds and Evaxion’s Board and Management.
The warrants have an exercise price of $2.71 per ADS, are immediately exercisable, and will expire five years from issuance. Evaxion intends to use the net proceeds to advance its preclinical and clinical pipeline, as well as for continuing operating expenses and working capital.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.