Virax Biolabs (VRAX) Stock Cools After Hours Following 75% Rally
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Virax Biolabs (VRAX) shares fell 12.79% to $0.60 after hours, following a 75.11% rise to $0.69. The company announced a $5 million private placement, selling 12.5 million shares at $0.40 each, with H.C. Wainwright & Co. as the placement agent. The offering includes preferred investment options and reduced exercise prices for Series A and B options. Proceeds will be used for working capital and corporate purposes. VRAX stock is down 68.87% this year, with a market cap of $3.01 million.
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