A Law360 article highlights how Ropes & Gray advised biotechnology company Novavax, Inc. in a $200 million private investment in public equity (PIPE) transaction with RA Capital Management. The deal was announced on June 15. Novavax is developing a vaccine candidate for COVID-19.
Under the agreement, Novavax sold Series A Convertible preferred stock, convertible into 4,388,852 shares of common stock, to an investment fund affiliated with RA Capital Management in a private placement, at an effective purchase price per share of common stock equal to the June 12, 2020 closing price. Upon closing Novavax will receive gross proceeds of approximately $200 million.
The Ropes & Gray team included capital markets partner Paul Kinsella (Boston).
Stay Up To Date with Ropes & Gray
Ropes & Gray attorneys provide timely analysis on legal developments, court decisions and changes in legislation and regulations.
Stay in the loop with all things Ropes & Gray, and find out more about our people, culture, initiatives and everything that’s happening.
We regularly notify our clients and contacts of significant legal developments, news, webinars and teleconferences that affect their industries.