Full Press Release Details
Pricing of $8 Million Underwritten Public Offering
2022 (GLOBE NEWSWIRE) -- via InvestorWire - BiondVax Pharmaceuticals Ltd. (Nasdaq: BVXV) ("Company"), which focuses
on developing, manufacturing, and commercializing innovative immunotherapeutic products primarily for the treatment of infectious and
autoimmune diseases, today announced the pricing of its underwritten public offering with gross proceeds to the Company expected to be
approximately $8,000,000, before deducting underwriting discounts and other expenses payable by the Company. The offering consists of
1,600,000 units and pre-funded units. Each unit consists of one American Depositary Share ("ADS") and two warrants, each to
purchase one ADS, and each pre-funded unit consists of one pre-funded warrant to purchase one ADS and two warrants each to purchase one
ADS. One of the warrants will expire three years from the date of issuance, and the other warrant will expire one year from the date of
issuance and may be exercised for half an ADS on or prior to the sixtieth (60th) day following the original issuance for no additional
consideration. Each ADS (or pre-funded warrant) is being sold together with two warrants at a combined purchase price of $5.00 per unit
(or $4.999 per pre-funded unit after reducing $0.001 attributable to the exercise price of the pre-funded warrants). Each ADS represents
400 of our ordinary shares, no par value per share.
The offering is expected
to close on December 20, 2022, subject to the satisfaction of customary closing conditions.
to use the net proceeds from the offering, together with its existing cash and cash equivalents, for the advancement of its NanoAbs development
program, as well as general corporate purposes, which may include working capital, research and development activities, regulatory matters,
capital investment or other related purposes.
Aegis Capital Corp. is acting as
sole book-running manager for the offering.
A registration statement
on Form F-1 (File No. 333-267648) relating to the offering of the securities was filed with the U.S. Securities and Exchange Commission
(SEC) and declared effective by the SEC on December 15, 2022. The offering is being made only by means of a prospectus, copies of which
may be obtained by contacting Aegis Capital Corp., 1345 Avenue of the Americas, 27th Floor, New York, NY 10105, by telephone at (212)
813-1010 or by email at syndicate@aegiscap.com. Copies of the registration statement can be accessed through the SEC's website at www.sec.gov.
shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state
or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities
laws of any such state or jurisdiction.
BiondVax Pharmaceuticals Ltd. (Nasdaq: BVXV) is
a biotechnology company focused on developing, manufacturing, and commercializing innovative immunotherapeutic products primarily for
the treatment of infectious and autoimmune diseases. Since its inception, the company has executed eight clinical trials including a seven
country, 12,400 participant Phase 3 trial of its prior vaccine candidate and has built a state-of-the-art manufacturing facility for biopharmaceutical
products. With highly experienced pharmaceutical industry leadership, BiondVax is aiming to develop a pipeline of diversified and commercially
viable products and platforms beginning with an innovative nanosized antibody (NanoAb) pipeline. www.biondvax.com.
Investor Relations | +972 8 930 2529 | ir@biondvax.com
Forward Looking Statements
This press release contains forward-looking statements
within the meaning of the Private Litigation Reform Act of 1995. Words such as "expect," "believe," "intend,"
"plan," "continue," "may," "will," "anticipate," and similar expressions are intended
to identify forward-looking statements. All statements, other than statements of historical facts, included in this press release regarding
strategy, future operations, future financial position, future revenue, projected expenses, prospects, plans and objectives of management
are forward-looking statements. Examples of such statements include, but are not limited to, statements regarding the expected closing
date of the offering, the expected use of proceeds from the offering, the timing of future pre-clinical clinical trials, and the therapeutic
and commercial potential of NanoAbs. These forward-looking statements reflect management's current views with respect to certain current
and future events and are subject to various risks, uncertainties and assumptions that could cause the results to differ materially from
those expected by the management of BiondVax Pharmaceuticals Ltd. Risks and uncertainties include, but are not limited to, the risk of
a delay in the closing date of the offering or that the Company's expected use of proceeds changes, that the therapeutic and commercial
potential of NanoAbs will not be met; the risk of a delay in the preclinical and clinical trials data for NanoAbs, if any; the risk that
BiondVax may not be able to secure additional capital on attractive terms, if at all; the risk that the European Investment Bank may accelerate
the loans under its finance contract with BiondVax; risks relating to the COVID-19 (coronavirus) pandemic; BiondVax's ability to acquire
rights to additional product opportunities; BiondVax's ability to enter into collaborations on terms acceptable to BiondVax or at all;
timing of receipt of regulatory approval of BiondVax's manufacturing facility in Jerusalem, if at all or when required; the risk that
the manufacturing facility will not be able to be used for a wide variety of applications and other vaccine and treatment technologies,
and the risk that drug development involves a lengthy and expensive process with uncertain outcomes. More detailed information about the
risks and uncertainties affecting the Company is contained under the heading "Risk Factors" in the Company's Annual Report on
Form 20-F filed with the Securities and Exchange Commission on March 28, 2022. BiondVax undertakes no obligation to revise or update any
forward-looking statement for any reason.