Biopharmaceutical company Blue Water Vaccines, Inc. (Nasdaq: BWV) began trading on the Nasdaq Capital Market on Friday. The firm’s initial public offering is looking to raise US$20.0 million and is expected to close on February 23, 2022.
The offering consists of 2,222,222 common shares selling at US$9.00 per share. The company intends to use the proceeds on research and development, as well as clinical trials for its vaccine candidates, and for working capital and other general corporate purposes.
Boustead Securities acts as the sole bookrunner for the said offering.
The Cincinnati-based biotech company is focused on developing vaccines, including a universal flu vaccine that prevents middle ear infections. The firm reported US$2.7 million net loss in the nine months ending September 30, 2021, as well as US$2.7 million cash balance and US$3.4 million in total assets as of end of Q3 2021.
Information for this briefing was found via Edgar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
