Vaxcyte, Inc., a clinical-stage vaccine development company, has priced an underwritten public offering of 11 million shares of its common stock at $50.00 per share. The company expects to raise approximately $550 million in gross proceeds from the offering, before deducting underwriting fees and other expenses.
The offering is being conducted solely by Vaxcyte, and the underwriters have been granted a 30-day option to purchase up to an additional 1.65 million shares at the same price, less applicable discounts and commissions.
**Why this matters**
The capital raised through this offering will provide Vaxcyte with additional resources to advance its vaccine pipeline and support ongoing clinical development programs. This funding could enhance the company’s ability to bring new vaccine candidates to market.