Virax dives after $3.8 mln private placement
04/11/2022 11:58
** Shares of Virax Biolabs Group Ltd VRAX.O slump 19% to
$1.85 premarket after co announces private placement of shares
worth $3.8 million urn:newsml:reuters.com:*:nPnZ4gLa
** Co to sell ~2.3 mln shares at $1.65/share to an unnamed
healthcare investor
** VRAX to also issue warrants to the investor for buying up
to ~3.5 mln shares at $1.73/share six months later
** Co has ~11.4 mln shares outstanding - Refinitiv data
** Stock, which listed in July, down by 54% YTD from IPO
price of $5/share urn:newsml:reuters.com:*:nASA03H1N
(Reporting by Leroy Leo in Bengaluru)
((Leroy.Dsouza@thomsonreuters.com ; Twitter: https://twitter.com/LeroyLeo7;))