April 29, 2022
HilleVax, Inc., a clinical-stage biopharmaceutical company focused on developing and commercializing novel vaccines, has announced the pricing of its upsized initial public offering of 11,765,000 shares of common stock at an initial public offering price of US$17 per share. All of the shares are being offered by HilleVax. The gross proceeds from the offering, before deducting underwriting discounts and commissions and other offering expenses, are expected to be approximately US$200 million. The shares began trading on the Nasdaq Global Select Market on April 29, 2022 under the ticker symbol “HLVX.” The offering is expected to close on May 3, 2022, subject to the satisfaction of customary closing conditions. In addition, HilleVax has granted the underwriters a 30-day option to purchase up to an additional 1,764,750 shares of common stock at the initial public offering price, less underwriting discounts, and commissions.
Latham & Watkins LLP represents HilleVax, Inc. in the offering with a corporate team led by San Diego partners Cheston Larson and Matt Bush and Boston/New York partner Wes Holmes, with San Diego associates Shelby Harrison, Julian Brody, and Madeleine Keach. Advice was also provided on executive compensation & benefits matters by San Diego partner Holly Bauer, with Orange County associate Sara Schlau; on intellectual property matters by San Diego/Bay Area partner Christopher Hazuka, with Los Angeles associate Michael Sweeney; on FDA regulatory matters by Washington, D.C. partner Elizabeth Richards and Bay Area counsel Betty Pang, with Washington, D.C. associate Chad Jennings; on debt financing matters by Bay Area partner Haim Zaltzman and Los Angeles/San Francisco partner Elizabeth Oh, with Los Angeles associate Kevin Castillo; and on tax matters by Century City/Orange County partner Samuel Weiner.