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Novavax, Inc.: Novavax Prices Public Offering of Common Stock

GAITHERSBURG, Md., March 26, 2015 (GLOBE NEWSWIRE) -- Novavax, Inc.
(Nasdaq:NVAX), a clinical-stage vaccine company focused on the discovery,
development and commercialization of recombinant nanoparticle vaccines and
adjuvants, today announced that it has priced an underwritten public offering
of 24,137,931 shares of common stock at a price to the public of $7.25 per
share for gross proceeds of approximately $175 million. Novavax expects to
receive net proceeds, after deducting the underwriting discount, of
approximately $165 million from the offering. In connection with this
offering, Novavax has granted the underwriters a 30-day option to purchase up
to an additional 3,620,689 shares of its common stock. If the underwriters
exercise this option in full, Novavax will have sold 27,758,620 shares of its
common stock.

Novavax intends to use the net proceeds from this offering for the advancement
of its lead vaccine candidates, including the preparation and potential
initiation of Phase 3 clinical trials of its elderly RSV and maternal RSV
programs, as well as its other clinical and preclinical research programs and
general corporate purposes, including working capital, product development,
manufacturing and process development expenditures and capital expenditures,
as well as acquisitions and other strategic purposes. The offering is
expected to close on or about March 31, 2015, subject to the satisfaction of
customary closing conditions.

J.P. Morgan and Citigroup are acting as joint book-running managers of the
offering. Piper Jaffray&Co. and Wedbush PacGrow are acting as Co-Lead
Managers, Janney Montgomery Scott and Ladenburg Thalmann are acting as

A preliminary prospectus supplement and the prospectus relating to the
proposed offering have been filed with the Securities and Exchange Commission
(SEC). The offering may be offered only by means of a prospectus, including a
prospectus supplement, forming a part of the effective registration
statement. This press release does not and shall not constitute an offer to
sell or the solicitation of an offer to buy, nor will 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 any such state or jurisdiction. When available,
copies of the final prospectus supplement and the prospectus relating to the
proposed offering can be obtained at the SEC's websitehttp://www.sec.govor
from J.P. Morgan and Citigroup, Attention: J.P. Morgan Securities LLC, c/o
Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717,
or by telephone at (866) 803-9204; or Citigroup, c/o Broadridge Financial
Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, by telephone at (800)

About Novavax

Novavax, Inc. (Nasdaq:NVAX) is a clinical-stage vaccine company committed to
delivering novel products to prevent a broad range of infectious diseases.
Its recombinant nanoparticles and Matrix-M(TM) adjuvant technology are the
foundation for ground-breaking innovation that improves global health through
safe and effective vaccines.

Forward-Looking Statements

Statements contained in this release, including those relating to the expected
closing of the offering, and those statements using words such as "expects"
and "intends" are forward-looking statements that involve a number of risks
and uncertainties that could cause actual results to differ materially from
those in the forward-looking statements. These risks and uncertainties
include, but are not limited to: our ability to successfully complete the
offering; the possible adverse impact on the market price of our shares of
common stock due to the dilutive effect of the securities to be sold in the
offering; our planned use of the proceeds from this offering; capital market
risks; our ability to raise additional capital when needed; and other risk
factors identified from time to time in the reports we file with Securities
and Exchange Commission (SEC), including our Annual Report on Form 10-K,
Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K, which are
available We caution investors not to place considerable
reliance on the forward-looking statements contained in this press release.
The forward-looking statements in this press release speak only as of the
date of this document, and we undertake no obligation to update or revise any
of the statements. Our business is subject to substantial risks and
uncertainties, including those referenced above. Investors, potential
investors, and others should give careful consideration to these risks and

CONTACT: Novavax, Inc.

Barclay A. Phillips
SVP, Chief Financial Officer and Treasurer

Andrea N. Flynn, Ph.D.
Senior Manager, Investor Relations


This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Novavax, Inc. via Globenewswire


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