Evaxion announces closing of $10.8 million public offering

Core Viewpoint - Evaxion Biotech A/S has successfully closed a public offering of 3,997,361 American Depositary Shares (ADSs) and warrants, raising gross proceeds of $10.8 million to advance its clinical pipeline and support operational expenses [1][4]. Group 1: Offering Details - The public offering price was set at$2.71 per ADS, with one warrant for every two ADSs purchased [1]. - The warrants have an exercise price of $2.71 per ADS, are immediately exercisable, and will expire five years after issuance [3]. - The offering was facilitated by Lake Street Capital Markets and Jones as exclusive placement agents [4]. Group 2: Participation and Use of Proceeds - MSD Global Health Innovation Fund, along with other healthcare-focused investment funds and members of Evaxion's Board of Directors and Management, participated in the offering [2]. - The net proceeds from the offering will be utilized to advance the company's preclinical and clinical pipeline, as well as for ongoing operating expenses and working capital [4]. Group 3: Company Overview - Evaxion Biotech A/S is a clinical-stage TechBio company that leverages its AI-Immunology™ platform to develop innovative vaccines targeting cancer, bacterial diseases, and viral infections [8]. - The company is focused on creating personalized vaccines and addressing high unmet medical needs in infectious diseases [8].