SAN DIEGO, Nov. 08, 2017 — Vical Incorporated (Nasdaq:VICL) today announced the pricing of its underwritten public offering of 14,285,714 shares of common stock or common stock equivalents at a price to the public of $1.75 per share.
H.C. Wainwright & Co., LLC is acting as the sole book-running manager for the offering.The gross proceeds from this offering are expected to be approximately $25.0 million, before deducting underwriting discounts and commissions and estimated offering expenses payable by Vical. The offering is expected to close on or about November 10, 2017, subject to customary closing conditions. Vical has granted the underwriter a 30-day option to purchase up to an additional 2,142,857 shares of common stock in connection with the public offering, at the public offering price less underwriting discounts and commissions. All of the securities are being offered by Vical.Registration statements on Form S-1 relating to the securities to be sold in the offering have become effective. The offering is being made only by means of a prospectus. A copy of the prospectus forming a part of the registration statement, as well as the final prospectus relating to the offering when available, may be accessed on the SEC's website located at www.sec.gov and may also be obtained by contacting H.C. Wainwright & Co., LLC, 430 Park Avenue, 4th Floor, New York, New York 10022, by calling (646) 975-6996 or emailing [email protected]This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of Vical’s securities. No offer, solicitation or sale will be made in any jurisdiction in which such offer, solicitation or sale is unlawful.About Vical
Vical develops biopharmaceutical products for the prevention and treatment of chronic or life-threatening infectious diseases, based on its patented DNA delivery technologies and other therapeutic approaches.Forward-Looking Statements
Statements in this press release regarding matters that are not historical facts, including expectations regarding the completion and timing of Vical’s proposed public offering, are forward-looking statements. These forward-looking statements are based on management's expectations and assumptions as of the date of this press release and are subject to numerous risks and uncertainties, which could cause actual results to differ materially from those expressed or implied by such statements. These risks and uncertainties include, without limitation, risks and uncertainties associated with market conditions and the satisfaction of customary closing conditions related to the proposed offering, as well as other risks and uncertainties described in Vical’s filings with the Securities and Exchange Commission (SEC), including under the heading “Risk Factors” in Vical's Annual Report on Form 10-K for the year ended December 31, 2016 and subsequent filings with the SEC. You are encouraged to read Vical’s filings with the SEC, available at www.sec.gov, for a discussion of these and other risks and uncertainties. The forward-looking statements in this press release speak only as of the date of this press release, and Vical undertakes no obligation to update or revise any of the statements.
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