Latham & Watkins Advises on Vaxcyte’s US$550 Million Public Offering

Vaxcyte, Inc. (Nasdaq: PCVX), a clinical-stage vaccine innovation company, has announced the pricing of an underwritten public offering of common stock. Vaxcyte is selling 11,000,000 shares of common stock in the offering at a public offering price of US$50 per share. The aggregate gross proceeds to Vaxcyte from this offering are expected to be US$550 million, before deducting underwriting discounts and commissions and other offering expenses. All shares of common stock 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 1,650,000 shares of its common stock at the public offering price per share, less underwriting discounts and commissions.

Latham & Watkins LLP advised the underwriters in the offering with a Capital Markets team led by Orange County/Bay Area partner Shayne Kennedy and Bay Area partner Richard Kim, with associates Raul Gonzalez‑Casarrubias and Megan Fitchen. Advice was also provided on regulatory matters by Bay Area partner Betty Pang and Washington, D.C. partner Nathan Beaton, with associate Evan Miller; on IP matters by San Diego counsel Robert Yeh, with associate Patrick Chew; and on tax matters by Bay Area partner Grace Lee, with associates Derek Gumm and Tessa Young.