Virax Biolabs Raises $5 Million in Private Placement Sale of Shares
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Virax Biolabs Group Ltd. closed a $5 million private placement, selling 12.5 million ordinary shares and preferred investment options. The shares were priced at $0.3999 per pre-funded warrant, with warrants exercisable at $0.0001 per share and preferred options at $0.40 per share for five years. H.C. Wainwright & Co. acted as the exclusive placement agent. Proceeds will be used for working capital, extending cash runway to 2028.
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