Vaccinex Inc (VCNX) has released an update to notify the public and investors about an entry into a material definitive agreement.
Vaccinex, Inc. is set to raise approximately $3.7 million through a private placement of securities, which includes both common stock shares and warrants. Scheduled to close on February 8, 2024, the deal offers investors common stock and warrants at a combined price of $0.725, as well as pre-funded warrants at $0.7249. These warrants are immediately exercisable, with the common warrants expiring five years from issuance. The move is part of a strategic effort to expand financial flexibility, involving key investors and company insiders, without the need for a public offering under the Securities Act of 1933.
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For a comprehensive understanding of the announcement, you can read the full document here.
