Virax Biolabs closes exercise of preferred investment options at USD 6, raises USD 3.3 million

Virax Biolabs closed the cash exercise of preferred investment options for 548,000 ordinary shares at USD 6 per share, raising about USD 3.3 million gross.

• The preferred investment options had an original exercise price of USD 10 per share.
• Virax issued new unregistered Series A preferred investment options for 548,000 shares and new unregistered Series B preferred investment options for 1,096,000 shares.
• The new warrants carry a USD 6 exercise price and become exercisable following shareholder approval of an authorized share increase.
• Net proceeds are earmarked for working capital and general corporate purposes.