Vaxcyte, Inc., a clinical-stage vaccine company based in San Carlos, California, has initiated an underwritten public offering of $500 million in common stock and pre-funded warrants. The company will be the sole seller of the shares and warrants in this offering. Additionally, underwriters have been granted a 30-day option to purchase up to $75 million more in common stock, including shares underlying the pre-funded warrants.
The completion of the offering depends on market conditions and other factors, and there is no guarantee regarding the timing, size, or terms of the final transaction.
**Why this matters**
This offering aims to provide Vaxcyte with additional capital to support its vaccine development programs and clinical trials. The proceeds could strengthen the company’s financial position as it advances its pipeline.