Vaccinex raises ~$8.7M in public offering of common stock and warrants

VACCINEX, INC.

Sold 9.6M share equivalents (7.6M shares + 2M pre-funded warrants) at $1.00 per unit, raising ~$8.7M net.
Related parties (Chairman Friedberg and CEO Zauderer) purchased $3.5M of shares and warrants in the offering.
Common warrants have $1.00 exercise price, 5-year term; pre-funded warrants have $0.0001 exercise price.
Net proceeds to fund pepinemab development for Alzheimer's disease and cancer, plus working capital.
Insiders entered lock-up agreements through December 2, 2023.

item 1.01 item 9.01

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 Purchase Agreement with some of the purchasers in the Offering (effective 2023-09-28).

Action: entry
Agreement: equity purchase
Counterparty: some of the purchasers in the Offering
Effective: 2023-09-28

Exact text from the filing

On October 3, 2023, Vaccinex, Inc. (the “Company”) sold in a public offering an aggregate of 9,600,000 common share equivalents together with accompanying common stock warrants (“Common Warrants”), comprised of (i) 7,600,000 shares (“Shares”) of the Company’s common stock (“Common Stock”) together with Common Warrants to purchase up to 7,600,000 shares of Common Stock (“Warrant Shares”) and (ii) in lieu of Shares, pre-funded warrants (“Pre-Funded Warrants” and together with the Common Warrants, the “Warrants”) to purchase up to 2,000,000 Warrant Shares together with Common Warrants to purchase up to 2,000,000 Warrant Shares (the “Offering”).

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VACCINEX, INC. filing history →

Source: SEC EDGAR

accession 0001193125-23-250405

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