InvestmentJul 10, 2026, 04:13 PM
Virax Biolabs Raises $3.3M from Warrant Exercise; Issues New Warrants
AI Summary
Virax Biolabs Group Limited secured approximately $3.3 million in gross proceeds by inducing a holder to exercise existing warrants for 548,000 ordinary shares at a reduced price of $6.00 per share. As an inducement, the company issued new unregistered Series A and Series B Preferred Investment Options to purchase up to an aggregate of 1,644,000 ordinary shares. The proceeds will be used for working capital and general corporate purposes, with H.C. Wainwright & Co. acting as the exclusive placement agent.
Key Highlights
- Received $3.3 million in gross proceeds from warrant exercise.
- Holder exercised warrants for 548,000 ordinary shares.
- Exercise price reduced from $10.00 to $6.00 per share.
- Issued new Series A warrants for up to 548,000 ordinary shares.
- Issued new Series B warrants for up to 1,096,000 ordinary shares.
- New warrants have an exercise price of $6.00 per share.
- Paid H.C. Wainwright & Co. 7.0% cash fee and 1.0% management fee.
- Proceeds to be used for working capital and general corporate purposes.
Price Impact
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