Vaxcyte, Inc. (Nasdaq: PCVX), a vaccine innovation company engineering high-fidelity vaccines to protect humankind from the consequences of bacterial diseases, has announced the pricing of an underwritten public offering of common stock and pre-funded warrants. Vaxcyte is selling 2,500,000 shares of common stock and pre-funded warrants to purchase 2,500,000 shares of common stock in the offering. The shares of common stock are being sold at a public offering price of US$20 per share, and the pre-funded warrants are being sold at a public offering price of US$19.999 per underlying share. The aggregate gross proceeds to Vaxcyte from this offering are expected to be approximately US$100 million, before deducting underwriting discounts and commissions and other estimated offering expenses, and excluding the exercise of any pre-funded warrants. All shares of common stock and pre-funded warrants to be sold in the offering will be offered by Vaxcyte. Vaxcyte has granted the underwriters a 30-day option to purchase up to an additional 750,000 shares of its common stock at the public offering price per share.
Latham & Watkins LLP represents the underwriters in the transaction with a capital markets deal team led by Bay Area partner Brian Cuneo, with associate Raul Gonzalez. Advice was also provided on regulatory matters by Washington, D.C. associate Chad Jennings.