GeoVax Labs Enters Deal to Raise $5 Million in Equity Offering

04:39 AM EDT, 08/29/2024 (MT Newswires) -- GeoVax Labs (GOVX) said late Wednesday it has agreed to sell 975,610 common shares in a registered direct offering to an institutional investor at a price of $5.125 per share for expected gross proceeds of $5 million.

The company will also issue warrants to purchase up to 975,610 common shares to the investor in a concurrent private placement, it said. The warrants will be exercisable at a price of $5 per share.

Net proceeds will be used for working capital and general corporate purposes, the company said.

The offering is expected to close around Friday, subject to customary conditions.

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