Curated News
By: NewsRamp Editorial Staff
August 29, 2024
GeoVax Labs, Inc. Announces Securities Purchase Agreement with Institutional Investor
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- GeoVax Labs, Inc. enters into a securities purchase agreement, offering an advantage for potential investors.
- GeoVax Labs, Inc. will issue warrants to purchase common stock with an exercise price and a term specified in the agreement.
- GeoVax Labs, Inc.'s development of immunotherapies and vaccines aims to improve global health outcomes.
- GeoVax Labs, Inc.'s clinical-stage biotechnology developments offer innovative solutions for infectious diseases and cancer therapies.
Impact - Why it Matters
This news is important as it highlights GeoVax Labs, Inc.'s efforts to secure funding for the development of immunotherapies, vaccines against cancer, and infectious diseases. It demonstrates the company's commitment to advancing its clinical programs and contributing to the fight against global health threats.
Summary
GeoVax Labs, Inc. has entered into a definitive securities purchase agreement with an institutional investor for the purchase and sale of 975,610 shares of the Company’s common stock at a price of $5.125 per share. In a concurrent private placement, the Company will issue warrants to purchase up to 975,610 shares of common stock. The gross proceeds to the Company from this offering are expected to be approximately $5.0 million, before deducting the placement agent's fees and other offering expenses payable by the Company. The Company intends to use the net proceeds from this offering for working capital and general corporate purposes. The closing of the offering is expected to occur on or about August 30, 2024, subject to the satisfaction of customary closing conditions.
Source Statement
This curated news summary relied on this press release disributed by NewMediaWire. Read the source press release here, GeoVax Labs, Inc. Announces Securities Purchase Agreement with Institutional Investor
