Vaccinex raises ~$2.04M in private placement at $0.41/share; insider participation

VACCINEX, INC.

Sold 4,975,608 shares at $0.41/share for gross proceeds of ~$2.04 million to three investors, including affiliates of CEO and chairman.
Proceeds will fund development and clinical trials of lead drug candidate pepinemab in cancer and neurodegenerative disease, plus working capital.
FCMI Parent Co., controlled by chairman Albert D. Friedberg, committed to purchase up to an additional $2.96 million of shares on or before May 15, 2023.
Albert Friedberg covenanted to vote his shares in excess of 40% proportionately with other holders; registration rights granted to non-affiliated investor.
Shares issued in private placement exempt from registration under Section 4(a)(2) of Securities Act and Rule 506 of Regulation D.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

VACCINEX, INC. entered into Stock Purchase Agreement with Vaccinex (Rochester), L.L.C. and FCMI Parent Co. valued at aggregate gross proceeds of approximately $2.04 million (effective 2023-03-30).

Action: entry
Agreement: equity purchase
Counterparty: Vaccinex (Rochester), L.L.C. and FCMI Parent Co.
Value: aggregate gross proceeds of approximately $2.04 million
Effective: 2023-03-30

Exact text from the filing

On March 30, 2023, Vaccinex, Inc. (the “Company”) entered into a stock purchase agreement (the “Stock Purchase Agreement”) pursuant to which the Company agreed to issue and sell 4,975,608 shares of common stock of the Company (the “Shares”) at a purchase price of $0.41 per Share for aggregate gross proceeds of approximately $2.04 million.

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VACCINEX, INC. filing history →

Source: SEC EDGAR

accession 0001193125-23-089004

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