BiondVax announces pricing of $8M underwritten public offering

BiondVax Pharmaceuticals announced the pricing of its underwritten public offering with gross proceeds to the Company expected to be approximately $8,000,000, before deducting underwriting discounts and other expenses payable by the Company. The offering consists of 1,600,000 units and pre-funded units. Each unit consists of one American Depositary Share and two warrants, each to purchase one ADS, and each pre-funded unit consists of one pre-funded warrant to purchase one ADS and two warrants each to purchase one ADS. One of the warrants will expire three years from the date of issuance, and the other warrant will expire one year from the date of issuance and may be exercised for half an ADS on or prior to the sixtieth day following the original issuance for no additional consideration. Each ADS is being sold together with two warrants at a combined purchase price of $5.00 per unit. Each ADS represents 400 of our ordinary shares, no par value per share. The offering is expected to close on December 20, 2022, subject to the satisfaction of customary closing conditions. The Company expects to use the net proceeds from the offering, together with its existing cash and cash equivalents, for the advancement of its NanoAbs development program, as well as general corporate purposes, which may include working capital, research and development activities, regulatory matters, capital investment or other related purposes.