GeoVax Labs Raises $8.5 Million Through in Direct Offering of 1.7 Million Shares-March 2024-www.financetom.com

GeoVax Labs Raises $8.5 Million Through in Direct Offering of 1.7 Million Shares

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GeoVax Labs Raises $8.5 Million Through in Direct Offering of 1.7 Million Shares

Aug 20, 2024 5:41 AM

08:06 AM EDT, 08/20/2024 (MT Newswires) -- GeoVax Labs ( GOVX ) said Tuesday it raised $8.5 million via a sale of 1.7 million shares of common stock to an unnamed institutional investor at $5.00 per share in a direct offering.

In addition, GeoVax Labs ( GOVX ) will issue warrants to the investor to buy an additional 1.7 million shares at $5.00 per share, with a five-year term.

GeoVax ( GOVX ) plans to use the proceeds from the offering for working capital and general corporate purposes.

The offering is expected to close on Wednesday.

Price: 7.00, Change: -0.15, Percent Change: -2.10

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