VERAXA Biotech Strengthens Financial Position with $27.5 Million Principal Amount Senior Secured Note Financing and $50 Million Share Purchase Agreement
View original at globenewswire.comVERAXA Biotech Strengthens Financial Position with $27.5 Million Principal Amount Senior Secured Note Financing and $50 Million Share Purchase Agreement Transactions Provide Financial Flexibility to Advance Pipeline of Next Generation Cancer Therapies Comprised of Novel Bispecific T-cell Engagers (TCEs) and Antibody-Dr…
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VERAXA is building a premier engine for the discovery and development of next-generation antibody-based therapeutics, including bispecific T cell engagers, bispecific ADCs and other innovative formats, powered by transformative technologies and guided by rigorous quality-by-design principles.
60% confidenceThe combined company upon closing of the Business Combination is expected to become a publicly traded company listed on NASDAQ trading under the symbol 'VRXA'.
60% confidenceSecuring these financings marks a significant step in our ongoing business combination with Voyager Acquisition Corp. and the expected listing of VERAXA shares on NASDAQ. We appreciate the financial support of these investors as we continue to employ a disciplined approach to balance sheet management through efficient and flexible access to capital.
60% confidenceVERAXA was founded on scientific breakthroughs made at the European Molecular Biology Laboratory, a world-renowned institution known for pioneering life science research and cutting-edge technology.
60% confidenceUnder the SPA, VERAXA maintains full control over the timing and amount of any sales, LPC is obligated to purchase the stock at prices based on the prevailing market price at the time of each sale, and there are no upper limits on the price LPC may pay to purchase VERAXA common stock.
60% confidenceAt VERAXA's sole option and subject to customary conditions, any amortization payment on the Note may be made in cash, in registered-for-resale shares of common stock, or a combination thereof.
60% confidence