Viral Diseases Tester Virax Biolabs Prices Upsized US$6.75 Million IPO

Biopharmaceutical company Virax Biolabs Group Limited recently increased its initial public offering size as it applies for a Nasdaq Capital Market listing. The firm is now looking to raise US$6.75 million.

The offering consists of 1.35 million common shares, up from the previously announced 1.2 million, selling at US$5.00 per share. The company targets to trade on the Nasdaq market under the symbol “VRAX”.

Boustead Securities acts as the sole bookrunner for the said offering. The underwriters were granted a 45-day over-allotment option to purchase additional 202,500 shares at the same IPO price.

Net proceeds from the offering are expected to be used for research & development, obtaining product certification approvals, expanding staff & payroll, marketing & advertising, working capital, operating expenses, inventory purchases, and regulatory & compliance work.

The UK-based biotech company focuses on developing T-cell testing as a method to detect one’s risk to major global viral threats through immunology profiling. The firm recently received ethical approval for its current study involving its Virax Immune COVID-19 test kit that bases its detection of viral immunity on T-cells instead of antibodies like most other kits.


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.

Video Articles

The Goal is Gold Production as Soon as Possible! | Gordon Robb – ESGOLD Corp.

Snowline Gold: The Multi Billion Dollar Valley PEA

Euro Sun: Rovina Copper-Gold Project Secures Some Major Funding

Recommended

Antimony Resources Drills 4.17% Antimony Over 7.4 Metres At Bald Hill

ESGold To Expand Mine Building At Montauban In Advance Of Gold & Silver Production

Related News

Russian Real Estate Platform Cian Prices US$291 Million NYSE IPO

Online real estate classified ad platform Cian PLC (NYSE: CIAN) started trading on the New...

Monday, November 8, 2021, 02:17:00 PM

Agritech Firm AgriFORCE Seeks To Raise US$13.6 Million In Its IPO

Agriculture-focused technology company AgriFORCE Growing Systems Ltd. goes public today on the Nasdaq Capital Market....

Thursday, July 8, 2021, 10:21:00 AM

Coinbase: The IPO Deep Dive

Coinbase Global (NASDAQ: COIN) is one of the hottest deals coming to market in 2021...

Tuesday, April 13, 2021, 01:30:00 PM

Financial Website NerdWallet Prices US$130.5 Million IPO

Personal finance firm NerdWallet, Inc. (Nasdaq: NRDS) started publicly trading on the Nasdaq Global Market...

Thursday, November 4, 2021, 02:19:00 PM

Wealth Management SPAC Everest Consolidator Acquisition Prices US$150 Million IPO

Special purpose acquisition company Everest Consolidator Acquisition Corporation (NYSE: MNTN.U) went public on Wednesday on...

Friday, November 26, 2021, 01:54:00 PM