Vaxart (VXRT) Prices 16M Share Offering

Vaxart, Inc. (Nasdaq: VXRT) today announced the pricing of its underwritten public offering of 16,000,000 shares of its common stock, for gross proceeds of approximately $15,000,000, before deducting the underwriting discounts and commissions and other estimated offering expenses payable by Vaxart. The offering is expected to close on or about June 9, 2023, subject to customary closing conditions. In addition, Vaxart has granted to the underwriter a 30-day option to purchase up to 2.4 million additional shares of its common stock.

Vaxart intends to use the net proceeds from the offering for general corporate purposes, capital expenditures, working capital, and general and administrative expenses.

Cantor Fitzgerald & Co. is acting as the sole book-running manager for the offering.

The underwriter may offer the shares from time to time for sale in one or more transactions on The Nasdaq Capital Market in the over-the-counter market, through negotiated transactions or otherwise at market prices prevailing at the time of sale, at prices related to prevailing market prices or at negotiated prices.

The offering is being made by Vaxart pursuant to a shelf registration statement on Form S-3 previously filed with the U.S. Securities and Exchange Commission (the “SEC”) on March 17, 2023, which became effective on May 5, 2023. A preliminary prospectus supplement related to the offering and the accompanying base prospectus have been filed with the SEC and are available on the website of the SEC at www.sec.gov. Copies of the final prospectus supplement and accompanying base prospectus relating to this offering may be obtained, when available, from Cantor Fitzgerald & Co., Attn: Capital Markets, 499 Park Avenue, 4th floor, New York, NY 10022; Email: [email protected].

This press release shall not constitute an offer to sell or the 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 such state or jurisdiction.

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