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Virax Biolabs Group Limited Announces Exercise of Preferred Investment Options for $3.3 Million Gross Proceeds
PR Newswire
Thu, July 9, 2026 at 11:05 PM GMT+5:30
6 min read
- VRAX
+105.97%
LONDON, July 9, 2026 /PRNewswire/ — Virax Biolabs Group Limited (“Virax” or the “Company”) (Nasdaq: VRAX) announced today that it has entered into a definitive agreement for the immediate exercise of certain outstanding preferred investment options to purchase up to an aggregate of 548,000 ordinary shares of the Company, par value $0.025 (the “Ordinary Shares”) originally issued in October 2023 (as amended in December 2025) and in December 2025 having an original exercise price of $10.00 per share, at a reduced exercise price of $6.00 per share. The resale of the Ordinary Shares issuable upon exercise of the warrants are registered pursuant to effective registration statements on Form F-3 (Nos. 333-292241 and 333-275893). The gross proceeds to the Company from the exercise of the preferred investment options are expected to be approximately $3.3 million, prior to deducting placement agent fees and estimated <a href="https://healthylife7.com/how-many-canadian-employers-are-offering-glp/” title=”How many Canadian employers are offering GLP”>offering expenses.
H.C. Wainwright & Co. is acting as the exclusive placement agent for the offering
In consideration for the immediate exercise of the preferred investment options for cash, the Company will issue new unregistered Series A Ordinary Share Preferred Investment Options (the “Series A Preferred Investment Option”) to purchase up to an aggregate of 548,000 Ordinary Shares and new short-term unregistered Series B Ordinary Share Preferred Investment Options (the “Series B Preferred Investment Option,” together with the Series A Preferred Investment Option, the “New Warrants”) to purchase up to an aggregate of 1,096,000 Ordinary Shares. The New Warrants will have an exercise price of $6.00 per Ordinary Share. The Series A Preferred Investment Option will be exercisable on or after the date of the approval by the shareholders of the Company of the increase in authorized Ordinary Shares of the Company (the “Authorized Share Increase”) and will expire five years following the later of the effective date of the resale registration statement registering the Ordinary Shares issuable upon exercise of the Series A Preferred Investment Option (the “Effective Date”) and the Authorized Share Increase, and the short-term Series B Preferred Investment Option will be exercisable on or after the date of the Authorized Share Increase and will expire eighteen months following the later of the Effective Date and the Authorized Share Increase.
The offering is expected to close on or about July 10, 2026, subject to satisfaction of customary closing conditions. The Company intends to use the net proceeds from the offering as working capital for general corporate purposes
