Evaxion announces closing of $15M public offering

Evaxion Biotech A/S announced the closing on February 5, 2024 of its previously announced public offering of 3,750,000 of its American Depositary Shares and warrants to purchase up to 3,750,000 ADSs at a combined public offering price of $4.00 per ADS and accompanying warrant. MSD Global Health Innovation Fund (MSD GHI), a corporate venture capital arm of Merck & Co., Inc., Rahway, NJ, USA, who became an Evaxion shareholder in December 2023, participated in this offering. The warrants have an exercise price of $4.00 per ADS, are exercisable immediately upon issuance and will expire five years following the date of issuance. Each ADS represents ten ordinary shares of the Company.

H.C. Wainwright & Co. acted as the exclusive placement agent for the offering.

The gross proceeds to the Company from the offering were $15 million before deducting the placement agent’s fees and other offering expenses payable by the Company. The Company intends to use the net proceeds of this offering to advance the Company’s preclinical and clinical pipeline and for continuing operating expenses and working capital.

A registration statement on Form F-1 (File No. 333-276505) relating to the securities described above has been filed with the Securities and Exchange Commission, or the SEC, and was declared effective by the SEC on February 1, 2024. The offering was made only by means of a prospectus, which is part of the effective registration statement. A final prospectus relating to the offering has been filed with the SEC.
MB Bureau