BioVaxys Technology Extends Closure of Private Placement Offering

BioVaxys Announces Extension of Offering Closing Date

BioVaxys Technology Corp. (CSE: BIOV) recently made headlines with its decision to extend the closing date for its brokered private placement LIFE financing. This financial strategy involves a minimum of 5,714,285 units at a post-consolidation price of $0.35 each, targeting gross proceeds of $2,000,000. The offering can potentially increase to a maximum of 8,571,428 units, meaning a possible total of $3,000,000 in funds raised.

Details on the Offering

Each unit in this offering will consist of one post-consolidation common share and one purchase warrant, which allows holders to buy additional common shares at a price of $0.50. These warrants will remain valid for 36 months following the offering's closing date. The funds from this offering are earmarked primarily for research and development, as well as other corporate purposes, underlining the company’s growth strategy.

Role of Financial Agents

The company has engaged several financial agents, including Enclave Capital LLC and D12 Capital Markets Inc., to assist in the offering. Enclave is set to earn a commission of 8% on the funds it raises, alongside an additional $10,000 cash fee. Similarly, D12 stands to earn a commission based on funds derived from their introduced parties.

Company's Corporate Strategy

The net proceeds from the offering are essential for fueling BioVaxys’s ongoing development projects. The anticipated closing is expected within approximately 45 days, pending approval from the CSE and the fulfillment of other conditions. Such strategic moves are vital for the company’s operational and financial health.

Understanding the Company Structure

Currently, BioVaxys plans to consolidate its common shares at a rate of ten to one. Post-consolidation, it is estimated that the company will have around 29,342,520 common shares, providing a leaner share structure that may attract more significant investments as it moves forward.

About BioVaxys Technology Corp.

BioVaxys Technology Corp. is a clinical-stage biopharmaceutical company dedicated to improving patient outcomes through innovative immunotherapies. The company operates using unique platforms like the DPX™ immune-educating technology and HapTenix©. Their innovative focus includes addressing various cancers, infectious diseases, and immunological disorders.

Current Clinical Developments

With an advanced pipeline that includes maveropepimut-S (MVP-S), BioVaxys is paving the way for innovative cancer treatments such as the dual-targeted immunotherapy that addresses both survivin and MAGE-A9 cancer proteins. This reflects the company's commitment to harnessing cutting-edge science to innovate in the treatment of serious health conditions.

Contact Information

For further inquiries, please reach out to James Passin, CEO of BioVaxys, via phone at +1 740 358 0555.

Frequently Asked Questions

What is the purpose of BioVaxys's recent funding extension?

The funding aims to support research and development projects critical for advancing BioVaxys's immunotherapy pipeline.

How will the funds be utilized?

The raised capital will be primarily directed towards R&D, general corporate purposes, and enhancing working capital.

What is the expected impact of the share consolidation?

The consolidation is designed to streamline the company's share structure, which could enhance investor interest and share value over time.

Who are the financial agents involved in the offering?

The company has engaged Enclave Capital LLC and D12 Capital Markets as key agents for facilitating the offering.

What innovative technologies does BioVaxys focus on?

BioVaxys's efforts focus on immunotherapies through technologies like DPX™ and HapTenix©, aimed at treating cancers and other diseases.

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