Deal sells units of stock or preferreds with two three-year warrants
By Devika Patel
Knoxville, Tenn., Aug. 17 – MabVax Therapeutics Holdings, Inc. priced an $8.63 million public sale of units with a $749,463 greenshoe on Aug. 16, according to an 8-K filed Wednesday with the Securities and Exchange Commission.
The company will sell 1,127,859 units of one common share and two warrants at $4.81 per unit and 665,281 units of one series F preferred share and two warrants at $4.81 per unit.
Each warrant will be exercisable until Aug. 22, 2019. The first warrant is exercisable at $5.55, and the second warrant is exercisable at $6.29. The strike prices are 753.85% and 867.69% premiums to the Aug. 15 closing price of $0.65.
Each preferred converts to common shares at $4.81 per share, which is a 640% premium to the Aug. 15 closing price.
Laidlaw & Co. (UK) Ltd. is the underwriter.
Settlement is expected Aug. 22.
The biopharmaceutical company is based in San Diego.
| Issuer: | MabVax Therapeutics Holdings, Inc.
|
| Issue: | Units of one common share and two warrants, units of one series F preferred share and two warrants
|
| Amount: | $8,625,003
|
| Greenshoe: | $749,463, or 169,179 units at $4.43 per unit
|
| Price: | $4.81
|
| Warrants: | Two warrants per unit
|
| Warrant expiration: | Aug. 22, 2019
|
| Warrant strike prices: | $5.55, $6.29
|
| Underwriter: | Laidlaw & Co. (UK) Ltd.
|
| Pricing date: | Aug. 16
|
| Settlement date: | Aug. 22
|
| Stock symbol: | OTCBB: MBVX
|
| Stock price: | $0.65 at close Aug. 15
|
| Market capitalization: | $20.98 million
|
|
|
| Stock units
|
| Amount: | $5,425,002
|
| Units: | 1,127,859
|
|
|
| Preferred units
|
| Amount: | $3.2 million
|
| Units: | 665,281
|
| Conversion price: | $4.81
|
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