Novavax Raising $200 Million to Fund Coronavirus and Flu Vaccine Efforts

Novavax (NASDAQ:NVAX) announced on Monday that it plans to raise around $200 million through a private placement with RA Capital Management. An investment fund affiliated with RA Capital will purchase a quantity of Series A Convertible preferred stock from Novavax that is convertible into 4,388,852 shares of common stock.