Blue water vaccines announces closing of $10 million private placement priced at-the-market under nasdaq rules

Cincinnati, aug. 11, 2022 (globe newswire) -- blue water vaccines inc. (“bwv” or “blue water vaccines” or the “company”), a biopharmaceutical company developing transformational vaccines to address significant global health challenges, today announced the closing of its previously announced private placement of 3,683,280 shares of common stock (or common stock equivalents in lieu thereof) to several healthcare-focused institutional investors, that was priced at-the-market under nasdaq rules. the company also issued to investors unregistered preferred investment options (the “investment options”) to purchase up to an aggregate of 4,972,428 shares of common stock. the purchase price for one share of common stock (or common stock equivalent) and one investment option was $2.715. the investment options have an exercise price of $2.546 per share, are exercisable immediately upon issuance, and have a term equal to five years.
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