Virpax Pharmaceuticals, Inc. (Virpax) has announced the offering of 937,034 shares of common stock, along with 1,666,667 Series A-1 and Series A-2 Common Warrants to purchase up to an equal number of shares of common stock. Additionally, 729,633 Pre-Funded Warrants to purchase up to 729,633 shares of common stock are being offered. The public offering price is set at $1.35 per share of common stock and accompanying warrants. The Series A-1 Common Warrants are exercisable immediately upon issuance at $1.35 per share and will expire five years from the date of issuance, while the Series A-2 Common Warrants have the same exercise price but will expire 18 months from the date of issuance. The Pre-Funded Warrants, exercisable for one share of common stock at $0.00001 per...Show More

Virpax Pharmaceuticals, Inc. (Virpax) has announced the offering of 937,034 shares of common stock, along with 1,666,667 Series A-1 and Series A-2 Common Warrants to purchase up to an equal number of shares of common stock. Additionally, 729,633 Pre-Funded Warrants to purchase up to 729,633 shares of common stock are being offered. The public offering price is set at $1.35 per share of common stock and accompanying warrants. The Series A-1 Common Warrants are exercisable immediately upon issuance at $1.35 per share and will expire five years from the date of issuance, while the Series A-2 Common Warrants have the same exercise price but will expire 18 months from the date of issuance. The Pre-Funded Warrants, exercisable for one share of common stock at $0.00001 per share, are being offered to certain purchasers who would otherwise exceed ownership limits post-offering. Virpax's common stock is listed on the Nasdaq Capital Market under the symbol 'VRPX.' The offering is expected to close on or about May 17, 2024, with A.G.P./Alliance Global Partners acting as the exclusive placement agent. The placement agent has agreed to use reasonable best efforts to arrange for the sale of the securities offered. The proceeds from the offering are intended for working capital and general corporate purposes, with a portion potentially used to make a $2.5 million payment due on July 1, 2024, as part of a settlement agreement. The offering is subject to customary closing conditions.